Chapter 2 - Do You Understand the Chart of Accounts? Inital Reply Due: Tuesday 2/21 by 11:59pm - Two Replies to Peers Due: Friday 2/24 by 11:59pm Purpose The purpose of this Discussion is to assess students' understanding of asset, liability, and stockholders' equity accounts- Directions 1. Lht five asset accounts. 2. Next to the account names, include debit, credit, +: and the accounts normal balance. Example: Cash Drt Cr. Normal Balance is Dr+ 3. Uist five liability accounts. 4. Next to the account names, include debit, credit, + and the account's normal balance. 5. List five stockholders' equity accounts. 6. Next to the account names, include debit, credit, t- and the account's normal balance