Question: Using the list provided, indicate for each account below the QuickBooks classification that would most likely be used (when the account is created) and the
Using the list provided, indicate for each account below the QuickBooks classification that would most likely be used (when the account is created) and the normal balance (dr/cr) for each account. ACCT Debit Credit FEEb KK IKKH IHK P FN+ F Merchandise Inventory Gain on Sale of Plant Asset Furniture & Fixtures Current Portion of Mortgage Payable Land Held for Future Expansion Prepaid Advertising Sales Discounts Customer's Down Payment Transportation In Interest Income Patent Supplies Expense Common Stock A Bank B Accounts Receivable C Other Current Asset D Fixed Asset JE Other Asset F Accounts Payable G Credit Card H Other Current Liability I Long Term Liability Equity K Income L Cost of Goods Sold M Expense N Other Income 0 Other Expense Page 2 of 2
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