Hi could you help me with my accounting homework. G16123456789101112131415161718AfxBAccount Title1Cash2Sales Revenue3 Accounts PayableInventoryTextbook RefLO 3.2Identify the nature of the following accounts and what their normal balancesare45 Rent Expense6 Utilities Payables7 Notes Payable8 Unearned Service Revenue9 Prepaid Insurance10 Depreciation11 Interest Income12 Accounts ReceivableCASSETNature of the AccountDNormal BalanceDEBITE A11234LO5Afx Textbook RefComputationsDate of borrowing6 Date of interest accrual7# of months for which interest is accrued (T)8Principal (P)9 Annual Rate of interest (R)10 Interest for the whole year (P.R)123B11 Interest for 10 months (P.R.T)CDEFTextbook Ref LO 12.2Campus Flights takes out a bank loan in the amount of $200,000 on March 1. The annual interest rate on the loan is 7.5%, recognizedon December 31. (Round answers to the nearest whole dollar if needed.) Compute the interest recognized as of December 31 in year1 rounded to the whole dollar.G

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G16 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 A 1 fx Account Title Cash 2 Sales Revenue 23 B Textbook Ref LO 3.2 Identify the nature of the following accounts and what their normal balances are 3 Accounts Payable 4 Inventory 5 Rent Expense 6 Utilities Payables 7 Notes Payable 8 Unearned Service Revenue 9 Prepaid Insurance 10 Depreciation 11 Interest Income 12 Accounts Receivable C ASSET Nature of the Account D Normal Balance DEBIT E

G16 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 A 1 fx Account Title Cash 2 Sales Revenue 23 B Textbook Ref LO 3.2 Identify the nature of the following accounts and what their normal balances are 3 Accounts Payable 4 Inventory 5 Rent Expense 6 Utilities Payables 7 Notes Payable 8 Unearned Service Revenue 9 Prepaid Insurance 10 Depreciation 11 Interest Income 12 Accounts Receivable C ASSET Nature of the Account D Normal Balance DEBIT E

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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