8. Which of the following account type does Inventory belong to? a. Asset b. Liability c. Revenue d. Expense 9. When an accounts receivable is settled in cash, which account is debited? a. Accounts receivable b. Cash c. Bad debt expense d. Sales returns and allowances 10. When equipment is sold for cash, which account is credited? a. Cash b. Equipment c. Revenue d. Accounts Receivable 11. When you purchase inventory on credit terms, which of your accounts is debited? a. Cash b. Accounts Receivable c. Inventory d. B and C 12. What type of account is the accounts receivable account? a. Expense b. Revenue c. Asset d. Equity 13. What type of account is the loan account? a. Equity b. Liability c. d. Asset Revenue 14. Which side of the trial balance is the Common Stock account normally shown? a. Debit b. Credit 15. Which side of the trial balance is the Allowance for doubtful account normally shown? a. Debit b. Credit