Required:

Using the table provided below, indicate whether each account normally has a debit or credit balance and indicate on which account appears.

Account

Accounts Payable

Accounts Receivable

Accumulated Depreciation $($Equipment$)$

Advertising Expense

Cash

Common Stock

Cost of Goods Sold

Depreciation Expense $($Equipment$)$

Equipment

Interest Expense

Inventory

Notes Payable

Retained Earnings

Sales Revenue

Utilities Expense

Debit$/$Credit

Financial Statement $$