66) Use the following code to classify the accounts listed below by the appropriate category:
a.Current asset
b.Long-term asset
c.Current liability
d.Long-term liability
e.Revenue
f.Expense
_____1. Interest receivable (to be collected within 3 months)
_____2. Interest income
_____3. Rent expense
_____4. Prepaid rent (eight months remaining)
_____5. Salaries expense
_____6. Salaries payable (due within 1 week)
_____7. Depreciation expense
_____8. Accumulated depreciation
67) Use the following code to classify the accounts listed below by the appropriate category:
a. Revenue
b. Expense
c. Neither a revenue nor an expense
______ 1. Retained earnings
______ 2. Prepaid insurance
______ 3. Interest expense
______ 4. Accumulated depreciation
______ 5. Salaries expense
______ 6. Sales
______ 7. Unearned revenue