Account classification

Sales

• Revenue

• Expense

• Asset

• Liability

Sales returns

• Revenue

• Contra revenue ("negative" revenue)

• Owner's equity

• Asset

Cost of goods sold

• Revenue

• Expense

• Asset

• Liability

Inventory adjustment

• Revenue

• Expense

• Asset

• Liability

Depreciation

• Revenue

• Expense

• Asset

• Liability

Advertising

• Revenue

• Expense

• Asset

• Liability

Freight outwards

• Revenue

• Expense

• Asset

• Liability

Wages

• Revenue

• Expense

• Asset

• Liability

Insurance

• Revenue

• Expense

• Asset

• Liability

Stationery

• Revenue

• Expense

• Asset

• Liability