In preparing a work sheet, indicate the financial statement debit column to which a normal balance of

Question:

In preparing a work sheet, indicate the financial statement debit column to which a normal balance of each of the following accounts should be extended. Use IS for the Income Statement Debit column and BS for the or Statement of Changes in Equity Debit column.
1. Equipment
2. Owner, withdrawals
3. Insurance expense
4. Prepaid insurance
5. Depreciation expense, equipment
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