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 521 Advertising Expense 118 Prepaid Insurance 120 Land 522 Depreciation Expense-Store Equipment 123 Store Equipment 124 Accumulated Depreciation-Store Equipment 523 Delivery Expense 529 Miscellaneous Selling Expense 125 Office Equipment 530 Office Salaries Expense 126 Accumulated Depreciation Office Equipment Ret Expense 200 Liabilities 532 Depreciation Expense-Office Equipment 210 Accounts Payable 211 Salaries Payable 533 Insurance Expense 534 Office Supplies Expense 212 Unearned Rent 539 Misc. Administrative Expense 600 Other Revenue 213 Customer Refunds Payable 215 Notes Payable 610 Rent Revenue 300 Owner's 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". Account Financial Statement Major Classification Possible Account Number Accounts Payable Accounts Receivable Accumulated Depreciation Office Equipment Accumulated Depreciation Store Equipment Advertising Expense Cash Cost of Merchandise Sold Customer Refunds Payable Delivery Expense Depreciation Expense-Office Equipment Depreciation Expense-Store Equipment Insurance Expense Interest Expense Kailey Garner, Capital Kailey Garner, Drawing Land Merchandise Inventory Miscellaneous Administrative Expense Miscellaneous Selling Expense Notes Payable Office Equipment Office Salaries Expense Office Supplies Office Supplies Expense Prepaid Insurance Rent Expense Salaries Payable Sales Sales Salaries Expense Store Equipment Store Supplies Store Supplies Expense