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Part B (10 points each for a possible total of 40 points) For each of the following, identify in Column 1 the category to which

Part B (10 points each for a possible total of 40 points)

For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement that the account in which the account balance is reported, and in Column 4 the account's nature (temporary/permanent).

(1)

Column 1

Column 2

Column 3

Column 4

Interest payable

(2)

Column 1

Column 2

Column 3

Column 4

Interest receivable

(3)

Column 1

Column 2

Column 3

Column 4

Discount on notes payable

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