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Classify Accounts JW
Practice classifying accounts
Question | Answer |
---|---|
Prepaid Insurance | Asset |
Cash | Asset |
Account Payable-anyone biz owes | Liability |
Account Receivable-customer that owes biz | Asset |
Owner's Capital | Owner's Equity |
Sales | Revenue |
Utilities Expense | Expense |
Rent Expense | Expense |
Supplies | Asset |
Owner's Drawing | Owner's Equity |