A) Place a mark in the appropriate column to indicate the type of account
B) Place a mark in the appropriate column to indicate on which financial statement that account is reported.
Type of Account: Asset Liability Equity Revenue Expense Income Statement Balance Sheet
Sales (for cash)
Loan from Bank
Sales (on credit)
Wages Earned by Employees
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The solution classifies accounts according to type (Asset, Liability, Equity, Revenue, Expense) and indicates on which financial statement (Income Statement, Balance Sheet) that account is reported.