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The Correct Classification for These Ledger Accounts Is: A  1 Asset 2 Liability 3 Income 4 Asset \text { 1 Asset } 2 \text { Liability }\quad 3 \text { Income } \quad 4 \text { Asset }

question 35

Short Answer

The correct classification for these ledger accounts is: a.Land
b.Accounts Receivable
c.Interest Received
d.Mortgage Payable
a.  1 Asset 2 Liability 3 Income 4 Asset \text { 1 Asset } 2 \text { Liability }\quad 3 \text { Income } \quad 4 \text { Asset }
b.  1 Asset 2 Asset 3 Liability 4 Liability \text { 1 Asset } \quad 2 \text { Asset } \quad 3 \text { Liability } \quad 4 \text { Liability }
c.  1 Asset 2 Liability 3 Liability 4 Liability \text { 1 Asset } \quad 2 \text { Liability } \quad 3 \text { Liability }\quad 4 \text { Liability }
d.  1 Asset 2 Asset 3 Income 4 Liability \text { 1 Asset } \quad 2 \text { Asset } \quad 3 \text { Income } \quad 4 \text { Liability }

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