Normal Balances and Financial Statements}

The following accounts are available for Haubstadt Shoe Works:

\section*{Required:}
Using a table like the one below, indicate whether each account normally has a debit or credit balance and indicate on which of the financial statements (statement of earnings, statement of retained earnings, or statement of financial position) each account appears.

\section*{Exercise

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Accounts Payable Accounts Receivable Accumulated Depreciation (Equipment) Common Shares Cost of Goods Sold Depreciation Expense (Equipment) Equipment Utilities Expense Interest Expense Inventory Notes Payable Retained Earnings Sales Revenue Advertising Expense