The accounts that will be used by Zant Moving Company follow. Prepare a chart of accounts for the firm. Classify the accounts by type, arrange them in an appropriate order, and assign suitable account numbers.
Sue Zant, Capital ...........................Salaries Expense
Office Supplies ...................................Prepaid rent
Accounts Payable ................................Fees Income
Cash .....................................Accounts Receivable
Utilities Expense ........................Telephone Expense
Office Equipment ........................Sue Zant, Drawing