Item Account Category Normal Primary (Specify if Balance Financial Specific Section of Contra-account) (Dr/Cr) Statement Financials 1 Accounts Receivable 2 Accumulated Depreciation 3 Allowance for Doubtful Accounts 4 Amortization Expense 5 Bad Debt Expense 6 Cash 7 Coal Mine 8 Cost of Goods Sold 9 Depreciation Expense 10 Discount on Notes Receivable 11 Dividends 12 Due From Factor 13 Goodwill 14 Interest Receivable (due in six months) 15 Inventory-on Consignment 16. Loss on impairment 17 Loss on Sale of Asset 18 Patent 19 Petty Cash 20 Prepaid Insurance 21 Retained Earnings 22 Sales 23 Sales Discounts 24 25 Supplies Unearned Revenue For each account listed below, indicate the following: For category: Asset (A), Liability (L), Equity (EQ)*, Revenue, Expen *If you write E, you will not get credit If the account is a contra account, you The normal balance in an account is must indicate so. For normal balance: how you increase that account- For primary financial Statement: income statement or balance sheet. that is the ONLY place that For specific section: or non-current with a debit or a credit. In most cases you will answer the Only use one of the other statements if the account appears For assets and liabilities, specify current For income statement, specify (GP) if the account appears above the gross profit line (OP) if the item is a regular item that appears between Gross Profit and Net Operating Income (OTH) If it appears elsewhere