Question: For each transaction, select whether the related account would be classified in the balance sheet as an asset, a liability, or stockholders' equity; in the
For each transaction, select whether the related account would be classified in the balance sheet as an asset, a liability, or stockholders' equity; in the income statement as a revenue or an expense; or in the statement of stockholders' equity as a dividend.
tableAccountsRelated Transactions Cash,Receive cash from customers. Service revenue,Provide services to customers. Supplies,Purchase supplies. Buildings,Purchase factory for operations. Advertising expense,Pay for cost of advertising. Equipment,Purchase equipment for operations. Interest expense,Pay for cost of interest. Accounts payable,Purchase supplies on credit. Dividends,Distribute cash to stockholders. Notes payable,Borrow from the bank.
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