Question: Question 1 Classify the following items into liabilities and assets. We owe a supplier Equipment Bank overdraft Account payable for inventory Machinery Warehouse Cash in

Question 1

Classify the following items into liabilities and assets.

  1. We owe a supplier
  2. Equipment
  3. Bank overdraft
  4. Account payable for inventory
  5. Machinery
  6. Warehouse
  7. Cash in hand
  8. Motor vehicles
  9. Loan to J.Jack

Computers

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