Using the format provided, for each account identify (1) whether the account is a balance sheet (B/S) or an income statement (I/S) account; (2) whether it is an asset (A), a liability (L), an owners€™ equity (OE), a revenue (R), or an expense (E) account; (3) whether the account is a real or a nominal account; (4) whether the account will be €œclosed€ or left €œopen€ at year-end; and (5) whether the account normally has a debit or a credit balance. The following example isprovided:

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Account Title B/S or l/S A, L, OE, R, E Real or Nominal Closed or Open Debit/Credit Cash B/S Real Open Debit 1. Accounts Receivable 2. Accounts Payable 3. Prepaid Insurance 4 Mortgage Payable 5. Rent Expense 6. Sales Revenue 7. Cost of Goods Sold 8. Dividends 9. Capital Stock 19. Wages Payable 20. Unearned Rent 10. Inventory 11. Retained Earnings 12. Prepaid Rent 13. Supplies on Hand 14. Utilities Expense 15. Income Taxes Payable 16. Interest Revenue 17. Notes Payable 18. Income Tax Expense Revenue 21. Land 22. Unearned Consulting Fees 23. Interest Receivable 24. Consulting Fees