Problem 2 See textbook, pages 26-31. Indicate whether itern is on balance sheet (BS) or income statement (IS). If on balance sheet, designate which category (current assets (CA), fixed assets (FA), current liabilities (CL), long-term liabilities (LL), stockholders' equity (SE). Item # CA, FA, CL, LL, SE Item Description Accounts payable Accounts receivable Accumulated depreciation Accruals Administrative expense Allowance for bad debts Bad debt expense Bonds payable ! Buildings Cash Common stock Cost of goods sold Depreciation expense Differed revenue Dividends receivable Equipment Income tax expense Income tax payable Interest payable Interest revenue Inventory Land Mortgage payable Paid in capital in excess of par value 20 26 Prepaid insurance Retained earnings Selling expense Supplies sh (United States)