Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following (1) identify the type of account as an asset, liability, equity, revenue or expense: (2) Identify the normal balance of the account, and (3) select debit (Dr) or credit (Cr) to identify the kind of entry that would increase the account balance Credit Account License Fee Revenue b. Uneamed Revenue Fees Earned d. Equipment o Notes Payable 1. Owner, Capital 0 Supplies h Accounts Payable 1. Consulting Revenue Salaries Expense k Uits Expense Prepaid Rent Type of Account Normal Balance Increase (Dr. or Cr.) Revenue Credit Liability Credit Credit Revenue Credit Credit Asset (Debit Debit Liability Credit Credit Equity Credit Credit Liability Asset Asset