Indicate whether each of the following would be reported in the financial statements as a current asset (b) property, plant, and equipment, (c) currently, (d) revenue, or (e) expenses 1. True 2. Accumulated Depreciation 3. Telephone Expense 4. Fees Earned 5. Wages Payable 6. Prepaid surance 7. Office Suples 8. Oning Expense 9. Unearned lant Selected accounts from the ledger of Garrison Company appear below. For each account, indicate the following: (a) In the first column at the right, indicate the nature of each account, using the following abbreviations: Asset -A Revenue - R Liability - L Expense - E None of the above - N (b) In the second column, indicate the increase side of each account by inserting "Dr." for Debit or "Cr." for Credit. Account Type of Account Increase Side (1) Supplies (2) Fees Earned (3) Retained Earnings (4) Accounts Payable (5) Salaries Expense (6) Common stock (7) Accounts Receivable (8) Equipment (9) Notes Payable Record the following selected transactions for April a. Received $18,000 from sale of common stock b. Purchased equipment for $27,000, paying $10,000 in cash and giving a note payable for the remainder. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0". c. Paid $2,300 for rent for April d. Purchased $1,500 of supplies on account e. Recorded $9,800 of fees earned on account, Previous Next f. Received $7,500 in cash for fees earned g. Paid $1,200 to creditors on account. h. Paid wages of $3,425. I. Received $7,900 from customers on account. j. Recorded dividends of $1,875