For Each of the Following, Identify in Column 1 the Category

question 60

Essay

For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, and in Column 3 the financial statement that the account in which the account balance is reported.
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Definitions:

Payment Requesting

The process of asking for payment for goods or services rendered, typically through invoicing or billing.

Collection Agency

An organization employed by creditors to collect funds that are past due or accounts deemed to be in default.

Accounts Receivable Policy

Guidelines and procedures related to the management and collection of money owed to a business by its clients or customers.

Cash Flow

The total amount of money being transferred into and out of a business, affecting the company's liquidity.