Cycle for a Service Business Analyzing LO 2 Show me HOW EXERCISE 4-2 Classify each of the accounts listed below as assets (A), liabilities (L) owner's equity (OE), revenue (R), or expenses (E). Indicate the normal debit or credit balance of each account. Indicate whether each account will appear in the Income Statement columns (IS) or the Balance Sheet columns (BS) of the work sheet. Item is given as an example Normal IS or BS Account Classification Balance Columns 0. Example: Wages Expense E Debit IS a. Prepaid Insurance b. Accounts Payable c. Office Supplies Expense d. T. Bristol, Capital e. Accumulated Depreciation, Building f. T. Bristol, Drawing g. Income from Services h. Equipment i. Depreciation Expense, Equipment j. Wages Payable 3 EXERCISE 4-3 Place a check market