Classify the following as an income, an expense, an asset or a liability: (a) Friend owes business

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Classify the following as an income, an expense, an asset or a liability:

(a) Friend owes business money

(b) Football club’s gate receipts

(c) Petrol used by a car

(d) Photocopier

(e) Revenue or Sales

(f) Telephone bill outstanding

(g) Long-term loan

(h) Cash

(i) Wages

(j) Equity or capital

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Accounting

ISBN: 9781119977186

3rd Edition

Authors: Michael J. Jones

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Question Posted: May 19, 2024 02:04 AM

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Classify the following as an income, an expense, an asset or a liability: (a) Friend owes business

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Accounting

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