All ledger accounts belong in one of the following five groups: asset, liability, owner's equity, revenue, and
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All ledger accounts belong in one of the following five groups: asset, liability, owner's equity, revenue, and expense. For each of the following accounts, state the group in which it belongs. Also indicate whether the normal balance would be a debit or credit. a Fees Earned b Notes Payable c Telephone Expense d William Nelson, Drawing e Building f Depreciation Expense g Accumulated Depreciation: Building
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Related Book For
Accounting The Basis For Business Decisions
ISBN: 9780070415515
5th Edition
Authors: Robert F. Meigs, Walter B Meigs
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