Classify item as an asset-liability and common stock
Classify each item as an asset, liability, common stock, revenue, or expense.
1. Cost of renting property
2. Truck purchased
3. Notes payable
4. Issuance of ownership shares
5. Amount earned from providing service
6. Amounts owed to suppliers
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The markup on a home spa should be 20% based on selling price. If the seller paid $5,900 for one, then how much should it be sold for to achieve the desired markup?
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