Indicate whether each of the following items is an asset (A), liability (L), or part of owners equity (OE) (a) Accounts receivable (d) Office supplies (b) Salaries payable (e) Owners investment (c) Equipment (f) Notes payable ...

A a Accounts receivable A d O ...

Indicate whether each of the following items is an asset (A), liability (L), or part of owners

Question:

Indicate whether each of the following items is an asset (A), liability (L), or part of owner’s equity (OE).
_______(a) _______(d) Office supplies
_______(b) Salaries payable _______(e) Owner’s investment
_______(c) Equipment _______(f) Notes payable

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...