The following are selected accounts and account balances of ABC Company on December 31, 2022.

a. Indicate whether the account is a permanent or temporary account.

b. Indicate the statement categories where the account is presented.

c. Indicate the normal balance in terms of debit or credit.

	(a) Permanent or Temporary	(b) Balance sheet. Income statement. Statement of retained earnings.	(c) Normal Balance Debit/Credit
Inventory	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above
Wages Payable	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above
Land	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above
Capital Stock	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above
Dividends	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above
Cost of Goods Sold	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above
Prepaid Expenses	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above
Retained Earnings	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above
Revenues	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above
Unearned Revenue	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above	Permanent accountTemporary accountBalance sheetIncome statementStatement of retained earningsDebitCreditNone of above