For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense; (2) identify the normal balance of the account; and (3) enter debit (Dr.) or credit (Cr.) to identify the kind of entry that would increase the account balance. a. Land e. Accounts Receivable i. Fees Earned b. Cash f. Owner, Withdrawals j. Equipment c. Legal Expense g. License Fee Revenue k. Notes Payable d. Prepaid Insurance h. Unearned Revenue l. Owner, Capital

Question

For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense;
(2) identify the normal balance of the account; and (3) enter debit (Dr.) or credit (Cr.) to identify the kind
of entry that would increase the account balance.
a. Land e. Accounts Receivable i. Fees Earned
b. Cash f. Owner, Withdrawals j. Equipment
c. Legal Expense g. License Fee Revenue k. Notes Payable
d. Prepaid Insurance h. Unearned Revenue l. Owner, Capital

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