Label each of the following accounts as an asset (A), a liability (L), or owners equity (OE),

Question:

Label each of the following accounts as an asset (A), a liability (L), or owner’s equity (OE), using the following format:
Item Account Classification
Money in bank Cash
Office supplies Supplies
Money owed Accounts Payable
Office chairs Office Furniture
Net worth of owner John Smith, Capital
Money withdrawn by owner John Smith, Drawing
Money owed by customers Accounts Receivable