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The following accounts, in alphabetical order, were selected from recent financial statements of Krispy Kreme Doughnuts, Inc. For each account, indicate whether the normal balance
The following accounts, in alphabetical order, were selected from recent financial statements of Krispy Kreme Doughnuts, Inc. For each account, indicate whether the normal balance is a debit or a credit, and the financial statement-balance sheet or income statement--where the account should be Show Timer presented. Account Normal Balance Financial statement Accounts payable Credit - Accounts receivable Debit Common stock Credit Depreciation expense Interest expense Interest income Inventories Prepaid expenses Property and equipment Revenues
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