Selected accounts from the ledger of Thomas Company appear below. For each account, indicate the following:
a. In the first column at right, indicate the type of each account using the following abbreviations:
Asset - A Revenue - R None of the above - N Liability - L Expense - E
b. In the second column, indicate the normal balance of the account by inserting a Dr. or Cr. 
Definitions:
Risk Of Loss
The possibility that an asset or investment will decrease in value or become completely worthless.
Destination Contract
A contract specifying that the seller will bear the risk and cost until the goods reach a specific destination.
Nonconforming Goods
Products shipped to a buyer that do not meet the specifications or requirements as stated in the contract.
Breach Of Contract
Occurs when one party fails to fulfill any of its agreed-upon terms or conditions in a contract.
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