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using PRACTICE EXERCISE 3 Classify each of the following account names as an asset, liability, equity, revenue, or expense. Account Name Class 1. Land -

using PRACTICE EXERCISE 3 Classify each of the following account names as an asset, liability, equity, revenue, or expense. Account Name Class 1. Land - A 2. Income Tax Payable 7 3. Property Taxes y 4. Travel Expenses V 5. Commissions Earned 6. Automobiles 7. Accounts Receivable 8. Service Revenue Earned 9. Accounts Payable 10. Shop Supplies Prepaid A 11. Pro Shop Sales > R ' 12. Building > A. 13. Postage & Courier Costs 14. Interest on Bank Loan YE 15. Legal Fees Earned

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