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Account Name Cycle Account Name Cycle Sales Revenue Salaries Payable Retained Earnings Accounts Receivable Accrued Income Tax Advertising Expense Bad Debt Expense Buildings Cost of

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Account Name Cycle Account Name Cycle Sales Revenue Salaries Payable Retained Earnings Accounts Receivable Accrued Income Tax Advertising Expense Bad Debt Expense Buildings Cost of goods sold Dividends Payable Income Tax Prepaid Expenses Notes Payable Dividends Allowance for Doubtful Accounts Accumulated Depreciation Accrued Payroll Tax Accrued Interest Land Raw Materials Required 1. Listed below are several accounts listed from a company's trial balance. Next to each account put the letter corresponding to the transaction cycle used to audit the account. (1 point per cell) A = Acquisition and payment cycle C = Capital acquisition and repayment cycle I = Inventory and warehousing cycle P= Payroll and personnel cycle S = Sales and collection cycle 2. Choose three accounts from the table and explain why they are on the same cycle? (8 points)

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