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

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Indicate whether each of the following items is an asset (A), liability (L), or part of owner’s equity (OE).

________ (a) Accounts receivable

________ (b) Salaries and wages payable

________ (c) Equipment

________ (d) Supplies

________ (e) Owner’s capital

________ (f) Notes payable

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Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Apr 23, 2020 12:23 AM

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

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Assets are the resources owned by the organization which is used to produce ...View the full answer

Accounting Principles

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