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Introduction This challenge exercise will test your understanding of setting up the Chart of Accounts, creating allo- cation accounts, and printing the Chart of Accounts. Instructions Continue with the data set created in Lesson 2. Use 01/01/2019 as the session date. Objectives Create a Chart of Accounts Set up Allocation Accounts Print the Chart of Accounts Hand In Chart of Accounts Exercises 1. Add the following Chart of Accounts: 1010 Bank - Chequing 1600-200 1030 Bank - Credit Card Revenue from Textbook Sales 1620-100 Sales Discounts 1100 Accounts Receivable 1620-200 Sales Discounts 1120 Office Supplies 1700-100 1130 Textbooks Advertising Expense 1200 1700-200 Computer 1710-100 Advertising Expense 1220 Copier/Fax/Scanner 1710-200 Credit Card and Bank Fees 1240 Office Furniture 1720-100 Credit Card and Bank Fees 1720-200 Automobile Expense 1260 Vehicle Automobile Expense 1280 Building 1730-100 1300 Accounts Payable Office Expense 1730-200 Office Expense 1320 Credit Card Payable 1740-100 1340 GST/HST Payable Utilities Expense 1740-200 GST/HST Recoverable 1750-100 Utilities Expense 1360 Insurance Expense 1400 Bank Loan 1750-200 Insurance Expense 1420 Mortgage Payable 1760-100 Telephone Expense 1500 Yourname, Capital 1760-200 Telephone Expense 1520 Retained Earnings 1810-100 Other Expenses 1600-100 Revenue from Consulting 1810-200 Other Expenses 2. When the telephone bill is received, it is posted to an allocation account and later allocated to each department at a rate of 60 percent to the Consulting department and 40 percent to the Textbooks department. The reallocation transactions source code should be used when the allocation transaction takes place. Add the appropriate allocation account. 3. Print the Chart of Accounts