Accounting

Sam Samson is the owner of Sam's Furniture.  His sales have increased by 40% the past year, but he finds he doesn't have enough money to pay his suppliers.  

Select 2 of the accounts below and:

a. Describe the account and

b. Explain the impact that account may have had on Sam's lack of cash in spite of increased sales.

1. Prepaid Expenses
2. Deferred Revenue
3. Accounts Payable
4. Land
5. Equipment
6. Notes Payable
7. Accumulated Depreciation
8. Inventory