8. For all of the accounts covered in this unit, know the following classifications (if it is a contra account, indicate it is a contra and then the type, for example a contra asset or contra revenue): Account Financial Temporary or Account Name Classification Normal Balance Statement Permanent (A, L, SE, R, E) (DR or CR) (BS or IS) (T or P) 1 Notes Receivable 2 Notes Payable 3 Equipment 4 Accumulated Depreciation | 5 Interest Receivable 6 Interest Payable | 7 Depreciation Expense 8 Income Tax Payable 9 Salaries Payable 10 Salaries Expense | 11 Unemployment Tax Payable 12 FICA Tax Payable | 13 | Interest Expense | 14 Interest Revenue | 15 | Trademark | 17 Gain 18 Land | 19 | Copyright 20 Building 21 Loss 22 Patent 2. (Chapter 4) Bank Reconciliation Brown Company's bank statement for September 30 showed a balance of $1,600. The company's cash account in its general ledger showed a $1,930 balance. The following information was also available as of Sept. 30. a. A debit memorandum shows a customer's NSF check for $300. b. The September 30 cash receipts, $1,200, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement. c. A $25 service charge was recorded by the bank. d. Check 281 issued on Sept. 29 for $530 and check 282 issued on Sept. 30 for $610 have not yet been paid by the bank. e. Interest income paid by the bank on September 30 was $10. f. A check to pay for utilities was correctly written and paid by the bank for $205 but was record on the books as $250. (a) Prepare a bank reconciliation as of September 30. Brown Company Bank Reconciliation September 30 BANK BOOK (b) Prepare journal entries required by the bank reconciliation. Date Account Name Debit Credit Prepare the journal entry to record the sale if the equipment was sold on December 31, 2020 for $15,000. Date Account Name Debit Credit Prepare the journal entry to record the sale if the equipment was sold on December 31, 2020 for $9,000. Date Account Name Debit Credit 4. Understand how to account for Sales Taxes and Deferred Revenues: Greenwald Company rings up sales and sales taxes separately in their point of sale system. On November 7, the register totals are sales $37,180 and sales taxes are $2,603. Date Credit Account Name Debit Moss Company does not separate the sales from the sales taxes in its point of sale system. The register total for November 7 was $17,280 which included the state sales tax of 8%. Date Account Name Debit Credit On November 1, 2017, Blue Company borrowed from Yellow Bank and received a 9-month note for $60,000 at a 5% interest rate. Interest will be paid at maturity. Record the journal entries for both Blue Company and Yellow Bank (1) at the date of the sale (November 1, 2017), (2) at December 31, 2017, and (3) at maturity (August 1, 2018). Date Account Name Debit Credit