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Problem 1 (20 marks) Fill in the blank in the table below Account Name Account type Normal balance? Does it get closed? (Debit or Credit
Problem 1 (20 marks) Fill in the blank in the table below Account Name Account type Normal balance? Does it get closed? (Debit or Credit ?) Temporary account or permanent account? Which financial statement is it reported? Cash Current asset Debit Permanent No Balance sheet Depreciation expense Unearned revenue Common shares Equipment Retained earnings Rent expense Service revenue Copyrights Land Bonds payable
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