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K Consider the following accounts and identify each as an asset (A), liability (L), or equity (E). 1. Rent Expense 2. Common Stock 3. Furniture

image text in transcribedimage text in transcribed K Consider the following accounts and identify each as an asset (A), liability (L), or equity (E). 1. Rent Expense 2. Common Stock 3. Furniture 4. Service Revenue 5. Prepaid Insurance For each account, identify if the change would be recorded as a debit (DR) or credit (CR). 11. Increase to Cash 12. Decrease to Accounts Payable 13. Increase to Common Stock 14. Increase to Unearned Revenue 15. Decrease to Accounts Receivable

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