Question: Classify each of the following items as assets (A), liabilities (L), or equity (EQ). ____________1. Land ____________2. Common stock ____________3. Equipment ____________4. Accounts payable ____________5.

Classify each of the following items as assets (A), liabilities (L), or equity (EQ).
____________1. Land
____________2. Common stock

____________3. Equipment

____________4. Accounts payable

____________5. Accounts receivable

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