The following accounts are available for Haubstadt Shoe Works:

Accounts Payable

Accounts Receivable

Accumulated Depreciation, Building

Accumulated Depreciation, Equipment

Building

Cash

Common Stock

Cost of Goods Sold

Depreciation Expense, Building

Depreciation Expense, Equipment

Equipment

General and Administrative Expense

Interest Expense

Inventory

Long Term Notes Payable

Retained Earnings

Sales Revenue

Selling Expense

Required:

Using a table like the one below, indicate whether each account normally has a debit or credit balance and indicate on which of the financial statements (income statement, statement of retained earnings, or balance sheet) each account appears.

Account Debit Credit Financial Statement