Question: a . Please classify the following accounts using the categories A - K below. The account categories can be used more than once ( 2
a Please classify the following accounts using the categories AK below. The account categories can be used more than once point each
Balance sheet classifications Income statement classifications
A Current asset H Revenue
B Long term asset I. Expense
C Current liability J Contra revenue
D Long term liability K Contra expense
E Owners equity
F Contra asset
G Contra equity
Bonds payable, due in years
Research and development costs
Accounts payable
Purchase discounts
Notes payable, due in nine months
Inventory
Accounts receivable
Sales discounts
Cost of goods sold
Allowance for uncollectible accounts
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