Credit Debit 24. Are fixtures assets or liabilities? 31 Assets Liabilities 25. The business has a loan of 10,000 from a bank. Is the loan an asset or a liability? Liability Asset 26. The business owes a supplier 500 for goods purchased and received. Is the amount the supplier an asset or a liability? owed to Liability Asset 27. What account type is the cash account? Liability Asset Equity 28. What type of account is the cost of sales account? Expense r Revenue Asset 29. What account type is a loan account? Equity Liability Asset 30. What type of account is the inventory account? Expense Liability Asset 31. What account type is the rent expense account? Revenue Asset Expense 32. What type of account is the accounts payable account? Liability Asset Equity 33. What account type is the common stock account? Asset Equity Liability 34. What account type is the accounts receivable account? Asset Liability Expense 35. What account type is the freehold building account? Asset Expense Liability 36. What account type is the sales account Expense Asset Revenue