Part 2 20 points Selected accounts from the ledger of Hughes 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 Expense - E None of the above - N (b) In the second column, indicate the increase side of each account by inserting Dr. (Debit) or Cr (Credit) (a) (b) Type of Decrease Account Account Sidc (1) Accounts Payable (2) Prepaid Insurance (3) Commission Revenue Dividends Supplies Advertising Expense Common Stock (8) Accounts Receivable Automobile (10) Notes Payable 10 points . Indicate whether each of the following would be reported in the financial statements as (a) (a) current asset, (b) fixed asset, (c) current liability, (d) Long term liability (e) revenue, () expense: (1) Cash (6) Equipment (2) Wages Payable (7) Sales (3) Prepaid Rent (8) Mortgage Note Payable (4) Rent Expense (9) Utilities Expense (5) Fees Earned (10) Land