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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Accounting The Basis For Business Decisions

ISBN: 9780070415515

5th Edition

Authors: Robert F. Meigs, Walter B Meigs

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