Recognition of normal balances The following items appeared in the accounting records of the Tape Box, a retail music store that also sponsors concerts. Classify each of the items as an asset, liability; revenue; or expense from the company's viewpoint. Also indicate the normal account balance of each item. a. The DVDs, CDs, albums, and video games held for sale to customers. b. A long-term loan owed to Citizens Bank. c. Promotional costs to publicize a concert. d. Daily sales of merchandise sold, e. Amounts due from customers, f.Land held as an investment, g. A new computer purchased for office use. h. Amounts to be paid in 10 days to suppliers, i.Amounts paid to property owner for rent.