I need help. For each of the following (1) identify the account as an asset, liability, equity, revenue, or expense; (2) identify the normal balance of theaccount; and (3) select debit or credit to identify the kind of entry that would increase the account balance.Type of AccountIncrease (Debit or Credit)Accounta. Landb. Cashc. Legal Expensed. Prepaid Insurancee. Accounts Receivablef. Tour Service Revenueg. Unearned Revenueh. Services Revenuei. Equipmentj. Notes PayableNormal Balance

Name: I need help. For each of the following (1) identify the account as an
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Description: I need help. For each of the following (1) identify the account as an asset, liability, equity, revenue, or expense; (2) identify the normal balance of theaccount; and (3) select debit or credit to identify the kind of entry that would increase the a

The organization does business with some assets and liabilities. A company that sells goods and…

Business

Accounting

For each of the following (1) identify the account as an asset, liability, equity, revenue, or expense account; and (3) select debit or credit to identify the kind of entry that would increase the accour Increase (Debit or Credit) Account a. Land b. Cash c. Legal Expense d. Prepaid Insurance e. Accounts Receivable f. Tour Service Revenue g. Unearned Revenue h. Services Revenue i. Equipment j. Notes Payable Type of Account Normal Balance

For each of the following (1) identify the account as an asset, liability, equity, revenue, or expense account; and (3) select debit or credit to identify the kind of entry that would increase the accour Increase (Debit or Credit) Account a. Land b. Cash c. Legal Expense d. Prepaid Insurance e. Accounts Receivable f. Tour Service Revenue g. Unearned Revenue h. Services Revenue i. Equipment j. Notes Payable Type of Account Normal Balance

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 2EB: Consider the following accounts and determine if the account is an asset (A), a liability (L), or...

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