For Each of the Following Accounts, State Type of Account

question 252

Essay

For each of the following accounts, state type of account and the normal account balance. Assume a periodic inventory system.
$$\begin{array} { | l | l | l | } \hline \text { Account Title } & \text { Type of Account } & \text { Normal Account Balance } \\\hline \text { Freight In } & & \\\hline \text { Purchase Discounts } & & \\\hline \text { Merchandise Inventory } & & \\\hline\end{array}$$