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Identify the Following Accounts as Either Temporary (T) or Permanent

Question 21

Short Answer

Identify the following accounts as either Temporary (T) or Permanent (P) accounts.
-Prepaid Expenses ______
Accounts Receivable ______
Service Revenue ______
J. Atkins, Capital ______
Rent Expense ______
Unearned Revenue ______
J. Atkins, Drawings ______
Interest Payable ______

Correct Answer:

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Prepaid Expenses…. P
Accounts ...

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