Question
For each of the following identify in column 1 the category to which the account belongs, in column 2 the normal balance for the account,
For each of the following identify in column 1 the category to which the account belongs, in column 2 the normal balance for the account, and in column 3 the financial statement on which the account balance is reported.
Column 1 Column 2 Column 3
A) Sales ________ ________ ________
B) Professional Fees Earned ________ ________ ________
C) Sales Returns and Allowances ________ ________ ________
D) Cleaning Expense ________ ________ ________
E) Sales Discounts ________ ________ ________
F) Store Rent Expense ________ ________ ________
G) Owner's Capital ________ ________ ________
H) Store Supplies ________ ________ ________
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