Accounting Question
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What are the normal or typical balances for the following accounts:
Note Payable: Credit
Cost of Goods Sold: Debit
Sales: Credit
Checking: Debit
Prepaid Rent: Debit
Payroll Liabilities: Credit
Interest Expense: Debit
Note Payable: Credit
Cost of Goods Sold: Debit
Sales: Credit
Checking: Debit
Prepaid Rent: Debit
Payroll Liabilities: Credit
Interest Expense: Debit