Listed below are nine accounts. How many of these accounts would be classified as nominal accounts? 1. Notes payable 2. Cash 3. Retained earnings 4. 5. 6. Depreciation expense 7. Prepaid rent 8. Gain on sale of land 9. Dividends 00 02 m. Cost of goods sold Unearned revenue 04 O 0 5 07

Listed below are nine accounts. How many of these accounts would be classified as nominal accounts? 1. Notes payable 2. Cash 3. Retained earnings 4. Cost of goods sold 5. Unearned revenue 6. Depreciation expense 7. Prepaid rent 8. Gain on sale of land 9. Dividends