EX 6-3 Chart of accounts Monet Paints Co. is a newly organized business with a list of accounts arranged in OBJ. 2 alphabetical order, as follows: Accounts Payable Merchandise Inventory Accounts Receivable Miscellaneous Administrative Expense Accumulated Depreciation-Office Equipment Miscellaneous Selling Expense Accumulated Depreciation--Store Equipment Notes Payable Advertising Expense Office Equipment Cash Office Salaries Expense Cost of Merchandise Sold Office Supplies Customer Refunds Payable Office Supplies Expense Delivery Expense Prepaid Insurance Depreciation Expense-Office Equipment Rent Expense Depreciation Expense-Store Equipment Salaries Payable Sales Insurance Expense Sales Salaries Expense Interest Expense Store Equipment Kailey Garner, Capital Store Supplies Kailey Garner, Drawing Store Supplies Expense Land Construct a chart of accounts, assigning account numbers and arranging the accounts in balance sheet and income statement order, as illustrated in Exhibit 2. 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.). OBJ. 2