The following accounts, in alphabetical order, were selected from recent financial statements of krispy kreme doughnuts, inc.
for each account, indicate whether the normal balance is a debit or a credit, and the financial statement—balance sheet or income statement—where the account should be presented.
account normal balance debit/credit balance sheet or income statement
accounts payable
accounts receivable
common stock
depreciation expense
interest expense
interest income
inventories
prepaid expenses
property and equipmentrevenues