The accounts below appear in the chart of accounts of William Car Services. Show whether the normal balance is a debit or a credit. Indicate whether the account would
The accounts below appear in the chart of accounts of William Car Services. Show whether the normal balance is a debit or a credit. Indicate whether the account would appear in the balance sheet or in the income statement, and under what classification, e.g., liability, asset, equity, income, or expense.
Interest payable [2 marks]
Car maintenance supplies [2 marks]
Salary Expense [2 marks]
Accounts receivables [2 marks]
Depreciation [2 marks]
Note: Use the following format:
No
Item
Normal Balance
Statement
For example: 1.
Repairs Expense
Debit
Income statement (expense)
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