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For Each of the Following (1)identify the Type of Account

question 174

Essay

For each of the following (1)identify the type of account as an asset,liability,equity,revenue,or expense,and (2)identify the normal balance of the account.
 Account Title  Account Type  Normal Balance  (Debit or Credit)  a. Prepaid Insurance  b. Accounts Payable  c. Common Stock  d. Utilities Expense  e. Land  f. Services Revenue  g. Notes Receivable  h.dvertising Expense  i. Unearned Revenue j. Service Revenue \begin{array} { | l | l | l | } \hline \text { Account Title } & \text { Account Type } & \begin{array} { l } \text { Normal Balance } \\\text { (Debit or Credit) }\end{array} \\\hline \text { a. Prepaid Insurance } & & \\\hline \text { b. Accounts Payable } & & \\\hline \text { c. Common Stock } & & \\\hline \text { d. Utilities Expense } & & \\\hline \text { e. Land } & & \\\hline \text { f. Services Revenue } & & \\\hline \text { g. Notes Receivable } & & \\\hline \text { h.dvertising Expense } \\\hline\text { i. Unearned Revenue } & & \\\hline \text {j. Service Revenue } & & \\\hline\end{array}


Definitions:

Comparative Ad

A marketing strategy that compares one product directly to another to highlight the advantages.

Brand's Strengths

The powerful aspects of a brand that give it a competitive advantage in the market, such as recognition, loyalty, and quality.

Reminder Ad

A type of advertising designed to keep a product or brand in the minds of consumers, often seen in later stages of product life cycle to maintain customer awareness.

Previous Knowledge

The information, understanding, and skills that a person has gained through experience or education before learning something new.

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