The following is a list of some accounts used by a food service business:

1. Food Inventory i. Equipment
2. Prepaid insurance j. Notes Payable
3. Food Sales k. A. M. Smith, Drawing
4. Utilities Expenses l. Income Summary
5. Cash m. Wages Expense
6. Accounts Receivable n. Operating Expenses
7. Accounts Payable o. Depreciation Expense
8. A. M. Smith, Capital p. Accumulated Depreciation

REQUIRED

For each account:

1. State what type of account it is (Permanent, temporary, clearing)
2. State whether it is closed during closing entries (Yes/No)
3. If it is closed during closing entries, state to which account it is closed