1. Short questions: a) Name three accounts that typically have a debit balance. b) Name three accounts that typically have a credit balance. c) Where (if at all) are the following accounts shown on the balance sheet? i. Owners' equity ii. Cost of goods sold iii. Prepaid insurance iv. PP&E v. A/R vi. Office supplies vii. Unearned revenue d) Do the following accounts typically show a debit or a credit balance? i. Revenue ii. Accumulated depreciation iii. Depreciation iv. Unearned revenue
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