Question
The following are selected accounts of Laura Gibson Company on December 31: Permanent (P) or Temporary (T) Normal Balance (Dr.) or (Cr.) Cash __________________________ _________________________
The following are selected accounts of Laura Gibson Company on December 31:
Permanent (P) or Temporary (T) Normal Balance (Dr.) or (Cr.)
Cash __________________________ _________________________
Accounts Receivable ___________________ __________________________
Equipment ___________________________ __________________________
Accounts Payable ______________________ __________________________
Common Stock ________________________ __________________________
Sales ________________________________ __________________________
Purchases _____________________________ ___________________________
Rent Expense _________________________ ____________________________
Utility Expense ________________________ _____________________________
Selling Expense ________________________ _____________________________
1. Indicate if the account is a permanent (P) or Temporary (T) account.
2. Indicate the normal balance in terms of debit (Dr.) or credit (Cr.).
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