Classify each of the following according to whether it is an asset, liability or equity account. Apply

Question:

Classify each of the following according to whether it is an asset, liability or equity account. Apply your learning from the definitions in Chapter 1 to provide a justification for each:
a. Cash at bank
b. Office building
c. Suppliers
d. Loan
f. Drawings
g. Capital
h. Stationery
i. Interest Revenue
j. Office furniture
k. Inventory
l. Fees revenue Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...