Question: Question 1 Instructions: Classify the accounts and indicate their normal balance. Uso the following abbreviations for classifications CA, LTI, PPE. IA. CL, LTL, EQ, REV,

Question 1 Instructions: Classify the accounts and indicate their normal balance. Uso the following abbreviations for classifications CA, LTI, PPE. IA. CL, LTL, EQ, REV, EXP ACCOUNT NORMAL CLASSIFICATION BALANCE Equipment Purchase Returns & Allowances Salos Tax Payable Sales Returns & Allowances Prepaid Insurance niventory Accounts Receivable Purchase Discounts Accumulated Depreciation sales Discounts

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