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a) Classify each item as an asset, liability or owners equity. 1) Accounts receivable 2) Prepayment 3) Fixed Deposit 4) Equipment 5) Drawing 6) Advertising

a) Classify each item as an asset, liability or owners equity. 1) Accounts receivable 2) Prepayment 3) Fixed Deposit 4) Equipment 5) Drawing 6) Advertising expenses 7) Commission received 8) Investment 9) Hire Purchase Loan 10) Hire Purchase Loan

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