Match the following types of accounts to their balance sheet classification: _________ Accounts Payable. A. Current Asset

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Match the following types of accounts to their balance sheet classification:

_________ Accounts Payable.                                 A. Current Asset
_________ Cash.                                                        B. Current Liability
_________ Equipment.                                             C. Long-Term Asset
_________ Inventory.                                                D. Long-Term Liability
_________ Bank Loan                                               E. Owner Equity.
_________ Accounts Receivable.
_________ Retained Earnings.
_________ Taxes Payable.
_________ Initial Capital Accounts.
_________ Common Stock.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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