Chart of Accounts Monet Paints Co. is a newly organized business with a list of accounts arranged in alphabetical order, as follows: Assign account numbers and specify whether each account would appear on the balance sheet or income statement order, as illustrated below. Each account number is three digits: the first digit is to indicate the major classification (1 for assets, for example); the second digit is to indicate the subclassification (11 for current assets, for example); and the third digit is to identify the specific account (110 for Cash, 112 for Accounts Receivable, 114 for Merchandise Inventory, etc.). Balance Sheet Accounts Income Statement Accounts 100 Assets 400 Revenues 110 Cash 410 Sales 112 Accounts Receivable 500 Costs and Expenses 115 Merchandise Inventory 510 Cost of Merchandise Sold 117 Office Supplies 520 Sales Salaries Expense 118 Prepaid Insurance 521 Advertising Expense 120 Land 522 Depreciation ExpenseStore Equipment 123 Store Equipment 124 Accumulated DepreciationStore Equipment 523 Delivery Expense 529 Miscellaneous Selling Expense 125 Office Equipment 530 Office Salaries Expense 126 Accumulated DepreciationOffice Equipment 531 Rent Expense 200 Liabilities 532 Depreciation ExpenseOffice Equipment 210 Accounts Payable 533 Insurance Expense 211 Salaries Payable 534 Office Supplies Expense 212 Unearned Rent 539 Misc. Administrative Expense 213 Customer Refunds Payable 600 Other Revenue 215 Notes Payable 610 Rent Revenue 300 Owners Equity 700 Other Expense 310 Chris Clark, Capital 710 Interest Expense 311 Chris Clark, Drawing Note: If an account would not appear on either the Balance Sheet or the Income Statement, select "N/A".