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QS4-5 In preparing a work sheet, indicate the financial statement Debit column to which a normal balance

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In preparing a work sheet, indicate the financial statement Debit column to which a normal balance in the following accounts should be extended. Use IS for the Income Statement Debit column and BS for the Balance Sheet and Statement of Owner’s Equity Debit column.

a. Insurance expense
b. Equipment
c. Owner, Withdrawals
d. Depreciation expense—Equipment
e. Prepaid rent
f. Accounts receivable

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