P 2-8 The following are selected accounts of Laura Gibson Company on December 31: Permanent (P) or Normal Balance (Dr.) Temporary (T) or (Cr.) Cash Accounts Receivable Equipment Accounts Payable Common Stock Sales Purchases Rent Expense Utility Expense Selling Expense Required In the space provided: 1. Indicate if the account is a permanent (P) or temporary (T) account. 2. Indicate the normal balance in terms of debit (Dr.) or credit (Cr.)