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Classify the following accounts as either 'Expense' or 'Income': Water and electricity, Current income, Repairs, Material cost, Stationary, Interest on current account, Wages, Interest on overdraft, C
Accounting
ScanSolve AI Answer
Here is the classification of the accounts:
| Account Name | Expense | Income |
|---|---|---|
| Eg Water and electricity | x | |
| 1.1 Current income | x | |
| 1.2 Repairs | x | |
| 1.3 Material cost | x | |
| 1.4 Stationary | x | |
| 1.5 Interest on current account | x | |
| 1.6 Wages | x | |
| 1.7 Interest on overdraft | x | |
| 1.8 Commission on income | x | |
| 1.9 Consumable stores | x | |
| 1.10 Postage | x |
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