Triguero’s_Classification

The following items appeared in the accounting records of Triguero’s, a retail music store that also sponsors concerts. Classify each of the items as an asset, liability; revenue; or expense from the company’s viewpoint. Also indicate the normal account balance of each item.
a. Amounts paid to a mall for rent.                                                     b. Amounts to be paid in 10 days to suppliers.                       c. A new fax machine purchased for office use.                    d. Land held as an investment.                                               e. Amounts due from customers.                                            f. Daily sales of merchandise sold.                                         g. Promotional costs to publicize a concert.                            h. A long-term loan owed to Citizens Bank.                          i. The albums, tapes, and CDs held for sale to customers.