Question: DO IT ! 1 . 2 ( LO 2 ) , K Classify each item as an asset, liability, common stock, revenue, or expense. Classify

DO IT!1.2(LO 2), K Classify each item as an asset, liability, common stock, revenue, or expense.
Classify financial statement elements.
a. Issuance of ownership shares.
b. Land purchased.
c. Amounts owed to suppliers.
d. Bonds payable.
e. Amount earned from selling a product.
f. Cost of advertising.

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