Indicate the type of account (asset, liability, shareholders equity, revenue, expense, or dividends declared) and whether it
Question:
Indicate the type of account (asset, liability, shareholders’ equity, revenue, expense, or dividends declared) and whether it normally has a debit balance or a credit balance:
a. Sales Revenue
b. Rent Expense
c. Prepaid Expenses
d. Bank Loan Payable
e. Common Shares
f. Accounts Receivable
g. Accounts Payable
h. Retained Earnings
i. Dividends Declared
j. Dividends Payable
k. Depreciation Expense
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Related Book For
Understanding Financial Accounting
ISBN: 9781119406921
2nd Canadian Edition
Authors: Christopher D. Burnley
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