Speedy Appliance Repair, owned by R. Lewis, uses the following accounts: In the form provided in your working papers:

1. Classify each account as an asset, liability, or owner’s capital account.

2. Indicate whether the increase side is a debit or a credit. 3. Indicate whether the decrease side is a debit or credit.

4. Indicate whether the normal balance for the account is a debit or credit balance. The Cash in Bank account is completed as an example.

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General Ledger Cash in Bank Accounts Receivable Office Equipment Accounts Payable R. Lewis, Capital