Question: State for each account whether it is likely to have (a) Debit entries only, (b) Credit entries only, or (c) Both debit and credit entries.

State for each account whether it is likely to have

(a) Debit entries only,

(b) Credit entries only, or

(c) Both debit and credit entries. Also, indicate its normal balance.

1. Accounts Payable

2. Cash

3. Dorothy Holt, Drawing

4. Miscellaneous Expense

5. Prepaid Insurance

6. Rent Revenue


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