What is accounting information system? Briefly discuss the principles of an efficient and effective accounting information system.

Indicate whether each of the following account is an asset, a liability, or an owner's equity account and whether it has normally debit or credit balance:

(1) Accounts Receivable
(2) Accounts Payable
(3) Equipment
(4) Unearned Revenue
(5) Prepaid Insurance
(6) Owners Drawings.