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Classify the Following Items According to the Financial Statement on Which

Question 25

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Classify the following items according to the financial statement on which each belongs, either the income statement IS) or the balance sheet BS).Also indicate whether each is a revenue R), expense E), asset A), liability L), or owners' equity OE) item. Classify the following items according to the financial statement on which each belongs, either the income statement IS) or the balance sheet BS).Also indicate whether each is a revenue R), expense E), asset A), liability L), or owners' equity OE) item.

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