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Question #2 - 10 marks Mike's Pancake Shop has balances in the following accounts at the end of May 1. Supplies 6. Owner's Capital 2.

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Question #2 - 10 marks Mike's Pancake Shop has balances in the following accounts at the end of May 1. Supplies 6. Owner's Capital 2. Accounts Receivable 7. Prepaid Insurance 3. Unearned Revenue 8. Equipment 4. Salaries Payable 9. Accounts Payable 5. Sales Revenue 10. Notes Payable Required: For each of the accounts indicate: a) the type of account (Asset, Liability. Owner's capital, Owner's drawings, Revenue. Expense) b) the debit and credit effects, and c) the normal account balances

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