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Unit Five Accounting
Normal Balances
Assets:
Cash
Debit
Petty Cash Debit Accounts Receivable
Debit
Supplies
Debit
Prepaid Insurance
Debit
Liabilities:
Accounts Payable
Credit
Owner’s Equity:
Owner Name, Capital
Credit
Owner Name, Drawing
Debit
Income Summary None Revenue:
Sales
Credit
Expenses:
Advertising Expense
Debit
Insurance Expense Debit Miscellaneous Expense
Debit
Rent Expense
Debit
Repair Expense
Debit
Supplies Expense Debit Utilities Expense
Debit