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Classify the accounts and indicate their normal balance. Use the following abbreviations: CA, LTI, PPE, CL, LTL, EQ, REV, EXP begin{tabular}{|l|l|l|} hline & & NORMALBALANCE(DebitorCredit)

image text in transcribed Classify the accounts and indicate their normal balance. Use the following abbreviations: CA, LTI, PPE, CL, LTL, EQ, REV, EXP \begin{tabular}{|l|l|l|} \hline & & NORMALBALANCE(DebitorCredit) \\ \hline Cost of Goods Sold & ACCOUNTCLASSIFICATION & \\ \hline Equipment & & \\ \hline Purchase Returns \& Allowances & & \\ \hline Sales Tax Payable & & \\ \hline Sales Returns \& Allowances & & \\ \hline Freight-Out & & \\ \hline Prepaid Insurance & & \\ \hline Inventory & & \\ \hline Accounts Receivable & & \\ \hline Depreciation Expense & & \\ \hline Purchase Discounts & & \\ \hline Accumulated Depreciation & & \\ \hline Sales Discounts & & \\ \hline Salary Expense & & \\ \hline Common Stock & & \\ \hline Note Payable & & \\ \hline Interest Payable & & \\ \hline Allowance for Doubtful Accounts & & \\ \hline Sncollectible Accounts Expense & & \\ \hline \end{tabular} Current Asset =CA Long-term Investments =LTI Property, Plant \& Equipment = PPE Current Liability =CL Long-term Liability = LTL Equity =EQ Revenue = REV Expense = EXP

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