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Account classifications include assets, liabilities, stockholders' equity, dividends, revenues, and expenses. 2 Required: For each transaction, select whether the related account would be classified in the balance sheet as an asset, a liability, or stockholders' equity; in the income statement as a revenue or an expense; or in the statement of stockholders' equity as a divider Accounts 1. Cash 2. Service revenue 3. Supplies 4. Buildings 5. Advertising expense 6. Equipment 7. Interest expense 8. Accounts payable 9. Dividends 10. Notes payable Related Transactions Receive cash from customers. Provide services to customers. Purchase supplies. Purchase factory for operations. Pay for cost of advertising. Purchase equipment for operations. Pay for cost of interest. Purchase supplies on credit. Distribute cash to stockholders. Borrow from the bank. Account Classifications +

Account classifications include assets, liabilities, stockholders' equity, dividends, revenues, and expenses. Required: For each transaction, select whether the related account would be classified in the balance sheet as an asset, a liability, or stockholders' equity; in the income statement as a revenue or an expense; or in the statement of stockholders' equity as a divide

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