1) Using the coding system described below, complete each cell with the letter that best indicates the normal characteristics for each account. (20 marks) Account Title Type of Account A = Assets R = Revenue C = Contra Closing Status C = Closed Normal Balance Financial Statement N = Not Closed D = Debit C=Credit B Balance Sheet L = Liabilities Income Statement SE Statement of Earnings N = None of the Above Example: Cash E = Expenses SE Shareholders' Equity A N D Equipment A N D B B Rent payable L C B Accumulated C depreciation C B Rent revenue R C C Inventory A N B B I Retained earnings. SE C C SE Depreciation expense E H D I Interest revenue R C C I Loan payable L N C B Dividends declared SE C B