Identify whether the following items would be reported on the income statement (IS) or statement of financial position (FP).
1. Cash
2. Service Revenue
3. Notes Payable
4. Interest Expense
5. Accounts Receivable

Question

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The Answer of Identify whether the following items would be reported on the income statement (IS) or statement of financial position (FP).
1. Cash
2. Service Revenue
3. Notes Payable
4. Interest Expense
5. Accounts Receivable

Identify Whether the Following Items Would Be Reported on the Income