The accounts that will be used by Dad & Sons 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.
Salaries Expense..............................................Office Supplies
Prepaid Rent............................................Accounts Payable
Fees Income............................................................Cash
Accounts Receivable....................................Utilities Expense
Telephone Expense.........................................Office Equipment
Nelson Sullivan Capital.....................Nelson Sullivan, Drawing