Question: (A) State whether each account is an asset, liability, equity, revenue, or expense and why. (B) If the account is an asset, state whether current

(A) State whether each account is an asset, liability, equity, revenue, or expense and why. (B) If the account is an asset, state whether current or PPE and why. (C) If the account is a liability, state whether it is current or long-term and why. The following are the accounts: (1) Cash (2) Unearned revenue (3) Utilities expense (4) Supplies (5) Accounts payable (6) Miscellaneous expense (7) Retained earnings (8) Accumulated depr-equip (9) Prepaid rent (10) Accounts receivable (11) Wages expense (12) Notes payable (13) Equipment (14) Advertising expense (15) Dividends (16) Common stock, $2par (17) Rental expense (18) Notes receivable (19) Supplies expense (20) Fees earned

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