Hasbro, Incorporated, produces popular games such as Trivial Pursuit, Scrabble, and Monopoly. The following are several of the accounts from a recent balance sheet. Required: Indicate how each account normally should be categorized on a classified balance sheet. Also indicate whether the account normally has a debit or credit balance. 1. Accounts Receivable 2. Notes Payable (short-term) 3. Common Stock 4. Notes Payable (long-term) 5. Income Taxes Payable 6. Equipment 7. Retained Earnings 8. Accounts Payable 9. Cash Category Normal Balance

Hasbro, Incorporated, produces popular games such as Trivial Pursuit, Scrabble, and Monopoly. The following are several of the accounts from a recent balance sheet. Required: Indicate how each account normally should be categorized on a classified balance sheet. Also indicate whether the account normally has a debit or credit balance