The Chart of Accounts is a list of accounts a company uses to track accounting information....

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The Chart of Accounts is a list of accounts a company uses to track accounting information. QBO sets up a Chart of Accounts when setting up a new company. Then accounts can be edited, added, and inactivated as needed. Required: Answer the following questions about the Chart of Accounts. What is the Account Type for the following accounts? Chart of Accounts 1. Checking account 2. Visa 3. Accounts Receivable (A/R) 4. Accounts Payable (A/P) 5. Prepaid Expenses 6. Owner Distribution Account Type The Chart of Accounts is a list of accounts a company uses to track accounting information. QBO sets up a Chart of Accounts when setting up a new company. Then accounts can be edited, added, and inactivated as needed. Required: Answer the following questions about the Chart of Accounts. What is the Account Type for the following accounts? Chart of Accounts 1. Checking account 2. Visa 3. Accounts Receivable (A/R) 4. Accounts Payable (A/P) 5. Prepaid Expenses 6. Owner Distribution Account Type