19) Describe the accounting cycle by discussing each step's purpose in chronological order. 20) Use the following code to identify each of the accounts listed below: P: Permanent account T:...

19) Describe the accounting cycle by discussing each step's purpose in chronological order.

20) Use the following code to identify each of the accounts listed below:

P: Permanent account

T: Temporary account

________ 1. Office supplies

________ 2. Supplies expense

________ 3. Factory equipment

________ 4. Accumulated depreciation

________ 5. Depreciation expense

________ 6. Accounts receivable

________ 7. Revenue

________ 8. Dividends

________ 9. Retained earnings

________ 10. Common stock

21) Indicate the normal balance of the account with a debit (DR) or credit (CR) and identify each account as permanent (P) or temporary (T).