A. Financial Statement Elements: Debit or Credit in the Normal Balance Column. B. Debit or Credit for every account in the Normal balance column. A. Financial Statement Elements Normal Balance (Is it a debit or credit?) Debit Asset Equity Revenue Expense Dividend Liability B. Accounts Normal Balance (Is it a debit or credit?) Debit Cash Salaries Payable Allowance for Doubtful Accounts Land Service Revenue Prepaid Rent Account Payable Notes Payable Interest Expense Preferred Stock Depreciation Expense Accumulated Depreciation Supplies Supplies Expense Prepaid Rent Dividends Dividends Payable inventory Rent Expense Sales Accounts Receivable Prepaid Insurance Retained Earnings Notes Receivable Insurance Expense interest Receivable Advertising Expense Equipment Common Stock Cost of Goods Sold Salaries Expense Interest Income Normal Balance (Is it a debit or credit?) Treasury Stock Interest Payable Unearned Revenue Building Taxes Payable Utilities Expense Gain/(Loss) on Sale of Asset Bad Debt expense Copyrights Additional Paid in Capital Goodwill