Question: State for each account whether it is likely to have debit entries only, credit entries only, or both debit and credit entries. Also, indicate its

State for each account whether it is likely to have debit

State for each account whether it is likely to have debit entries only, credit entries only, or both debit and credit entries. Also, indicate its normal balance. Typical EntriesNormal Balance 1. Accounts Payable 2. Cash 3. Dividends 4. Miscellaneous Expense 5. Insurance Expense 6. Fees Earned 2. BE.02-02.ALGO (Algorithmic) Journal Entry for Asset Purchase Prepare a journal entry for the purchase of office supplies on March 9 for $1,400, paying $235 cash and the remainder on account. If an amount box does not require an entry, leave it blank. Mar. 9 3. BE.02-03.ALGO (Algorithmic) Journal Entry for Fees Earned Prepare a journal entry on August 13 for cash received for services rendered, $14,000. Aug. 13

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