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Unformatted text preview: List the types of classifications of accounts: A = Assets L = Liabilities C = Capital Stock I = Income (Revenue) E = Expense Arrange the letters to read ALICE. Then list normal balances by the side of each. A = Dr. L = Cr. I = Cr. C = Cr E = Dr. Note that ALICE begins and ends with normal Dr. balance accounts while the three middle classifications are normal Cr. balance accounts....
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- Spring '08