Identify each of the following accounts of kaiser services co. as asset, liability, stockholders' equity , revenue, or expense, and state in each was whether the normal balance is a debit or a credit.

a. accounts payable

b. accounts recievable

c. cash

d. common stock

e. dividends

f. fees earned

g. office equipment

h. rent expense

i. supplies

j. wages expense

a. Accounts Payable (CR), b. Accounts Recievable  (DR), c. Cash (DR), d. Common Stock  (CR), e. Dividends ( If it is earned -CR while if it paid- DR), f. Fees Earned (CR), g. Office Equipment ( DR), h. Rent Expense (DR), i. Supplies ( DR), j. Wages Expense (DR)

Explanation:

Dr Cash 1,166,400

Cr Notes Receivable 1,000,000

Cr Interest Revenue 166,400

Explanation:

To determine the net amount of the notes receivable that will be recorded, we must determine the present value of the note:

present value = 1,166,400 / (1 + 8%)² = 1,166,400 / 1.1664 = 1,000,000