Classifying Financial Items The following accounts were used in recording the 2020 adjusting entries of Jackson Corp, a nutrition's lab. a Classify each account as asset, liability, revenue, expense, or paid-in capital, Indicate if the account is a contra account. b. Indicate the account's normal balance (debit or credit). ci indicate whether a debitor credit is needed to increase the account. (a) Classification (b) Normal Balance (c) To Increase the Account 1. Prepaid insurance 2. Interest expense . e 3. Property taxes payable . 4 Not receivable e . 5.Interest payable e 6. Common stock . 7. Accumulated depreciation 8. Allowance for doubtful accounts e 9.Interest revenue 10. Depreciation expense. e 11 Sales 12 Accounts receivable e 13.Accrued expense e 14.Cost of goods sold 15.Deferred subscription revenue e e