Using the letter preceding each account, arrange the following selected accounts in the order they would normally appear in a chart of accounts of a company that uses a multiple-step income statement.(a)Accounts Payable
(b)Accounts Receivable
(c)Inventory
(d)Miscellaneous Selling Expense
(e)Interest Expense
(f)Misc. Admin. Expense
(g)Freight Out

Multiple-Step Income Statement

An income statement format that separates operating activities from non-operating activities, distinguishing between sales and expenses directly related to the business's primary operations and other sources or uses of income.

Chart of Accounts

A systematic list of all account titles and numbers being used by an organization to track financial transactions and prepare financial statements.

Interest Expense

The cost incurred by an entity for borrowed funds, considered as a non-operating expense on the income statement.