Indicate whether each of the following accounts normally possesses a debit (DR)or a credit (CR)balance.
$\begin{array}{ll}
\text { 1. Wage expense } & \text { 9. Merchandise Inventory } \
\text { 2. Prepaid rent } & \text { 10. Salary expense } \
\text { 3. Cost of goods sold } & \text { 11. Equipment } \
\text { 4. Cash } & \text { 12. Accounts receivable } \
\text { 5. Sales } & \text { 13. Accumulated depreciation } \
\text { 6. Paid-in-capital } & \text { 14. Notes payable } \
\text { 7. Depreciation expense } & \text { 15. Utilities expense }\
\text { 8.Accounts payable}
\end{array}$

Question

Indicate whether each of the following accounts normally possesses a debit (DR)or a credit (CR)balance.
 $\begin{array}{ll}
\text { 1. Wage expense } & \text { 9. Merchandise Inventory } \
\text { 2. Prepaid rent } & \text { 10. Salary expense } \
\text { 3. Cost of goods sold } & \text { 11. Equipment } \
\text { 4. Cash } & \text { 12. Accounts receivable } \
\text { 5. Sales } & \text { 13. Accumulated depreciation } \
\text { 6. Paid-in-capital } & \text { 14. Notes payable } \
\text { 7. Depreciation expense } & \text { 15. Utilities expense }\
\text { 8.Accounts payable}
\end{array}$

Quizplus · Accepted Answer

The Answer is 1.DR,2.DR,3.DR,4.DR,5.CR,6.CR,7.DR,8.CR,9.DR,10.DR,11.DR,12.DR,13.CR,14.CR,15.DR

Indicate Whether Each of the Following Accounts Normally Possesses a Debit