Explain what the following terms mean:a. Accounts receivableb. Suppliesc. Prepaid rentd. Furnituree. Accumulated depreciationf. Accounts payableg. Unearned service revenueh. Service revenuei. Rent expense3. Answer the following questions:a. What type of normal balance does the Retained earnings account havedebit or credit?b. Which Income Statement account has the same type of balance as the Retained earningsaccount?c. Which type of Income Statement account has the opposite type of balance as the Retainedearnings account?d. What do we call the difference between total debits and total credits on the Income Statement?Into what account is the difference figure closed at the end of the period?