Problem 1 (25 marks) Fill in the blank in the tables Account Name Cash Accounts payable...

  

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Problem 1 (25 marks) Fill in the blank in the tables Account Name Cash Accounts payable Allowance for Uncollectible Accounts Sales revenue Accumulated depreciation Purchases returns & allowances Owner's capital Land Bonds payable Sales discount Prepaid insurance Notes payable (<1 year) Copyrights Account type Current Asset Normal balance? (Debit or Credit ?) Debit Temporary account or permanent account? Permanent Does it get closed? No Which financial statement is it reported? Balance Sheet Account Name Supplies Cost of goods sold Dividend income License Purchases discount Inventory Notes receivable (>1 year) Mortgages payable Unearned revenue Sales returns and allowances Prepaid rent Trademarks Account type Normal balance? Temporary account or permanent account? Does it get closed? Which financial statement is it reported? Problem 1 (25 marks) Fill in the blank in the tables Account Name Cash Accounts payable Allowance for Uncollectible Accounts Sales revenue Accumulated depreciation Purchases returns & allowances Owner's capital Land Bonds payable Sales discount Prepaid insurance Notes payable (<1 year) Copyrights Account type Current Asset Normal balance? (Debit or Credit ?) Debit Temporary account or permanent account? Permanent Does it get closed? No Which financial statement is it reported? Balance Sheet Account Name Supplies Cost of goods sold Dividend income License Purchases discount Inventory Notes receivable (>1 year) Mortgages payable Unearned revenue Sales returns and allowances Prepaid rent Trademarks Account type Normal balance? Temporary account or permanent account? Does it get closed? Which financial statement is it reported?

Answer rating: 100% (QA)

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