Indicate whether each of the following items is an asset (A), liability (L), or part of owner’s equity (OE).

Indicate whether each of the following items is an asset (A), liability (L), or part of owner’s
equity (OE).
a. Accounts receivable d. Supplies
b. Salaries and wages payable e. Owner’s capital
c. Equipment f. Notes payable
BE1.6 (LO 3) Classify each of the following items as owner’s drawings (D), revenue (R), or expense (E).
a. Advertising expense e. Owner’s drawings
b. Service revenue f. Rent revenue
c. Insurance expense g. Utilities expense
d. Salaries and wages expense