Indicate for each of the following items whether it would appear on a balance sheet (BS) or an income statement (IS). If a balance sheet item, is it an asset (A), a liability (L), or an owners’ equity item (OE)? 1. Accounts Payable2. Sales Revenue3. Accounts Receivable4. Advertising Expense5. Cash6. Supplies7. Consulting Revenue8. Land9. Capital Stock10. Rent Expense11. Equipment12. Interest Receivable13. Mortgage Payable14. Notes Payable15. Buildings16. Salaries & Wages Expense17. Retained Earnings18. Utilities ExpenseView Solution:
Indicate for each of the following items whether it would