The Correct Classification for These Ledger Accounts Is: A $\text { 1 Asset } 2 \text { Liability }\quad 3 \text { Income } \quad 4 \text { Asset }$

Short Answer

The correct classification for these ledger accounts is: a.Land
b.Accounts Receivable
c.Interest Received
d.Mortgage Payable
a. $\text { 1 Asset } 2 \text { Liability }\quad 3 \text { Income } \quad 4 \text { Asset }$
b. $\text { 1 Asset } \quad 2 \text { Asset } \quad 3 \text { Liability } \quad 4 \text { Liability }$
c. $\text { 1 Asset } \quad 2 \text { Liability } \quad 3 \text { Liability }\quad 4 \text { Liability }$
d. $\text { 1 Asset } \quad 2 \text { Asset } \quad 3 \text { Income } \quad 4 \text { Liability }$