Classify each of the following items as asset (A), liability (L), revenue (R), or expense (E). (a)

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Classify each of the following items as asset (A), liability (L), revenue (R), or expense (E).

(a) Advertising expense

(e) Cash

(b) Commission revenue

(f) Rent revenue

(c) Insurance expense (g) Utilities expense

(d) Office equipment (h) Accounts payable

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Financial Accounting Text Only

ISBN: 9780006575405

5th Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

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Question Posted: Jun 07, 2024 01:20 AM

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Classify each of the following items as asset (A), liability (L), revenue (R), or expense (E). (a)

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Financial Accounting Text Only

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