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Which of the following describes the classification and normal balances of the Supplies account? A Asset, credit B. Asset, debit C. Liability, credit D. Liability, debit QUESTION 11 The financial statement that presents the balance of asset, liability, and owner's equity for a specific date is called a(n): A. Prior Period Statement B. Statement of Owner's Equity C. Balance Sheet D. Income Statement California Company received cash from clients at the time services were rendered. Which of the following entries for California Company records this transaction? A Accounts Payable, debit; Fees Eamed, credit CB. Cash, debit, Fees Eamed, credit Foos Eamed, debit: Cash, credit D. Fees Eamed, debit: Accounts Payable, credit QUESTION 13 Which of the following entries records the payment of rent expense for the current month? A Cash, debit; Rent Expense, credit B. Accounts Recolvable, debit; Rent Expense, credit Rent Expense, debit, Cash, credit D. Rent Expense, debit: Accounts Receivable, credit