Asset Accounts Liability Accounts

Account Code Account Titles Account Code

Current Assets Current Liabilities
20-0001 Cash 30-0001
20-0002 Accounts Receivable
20-0003 Office Supplies Owner's Equity Accounts
20-0004 Prepaid Insurance 40-0001
20-0005 Inventory 40-0002

Cost of Sales
70-0001 Purchases
70-0002 Purchase Returns
70-0003 Freight Charges
 Revenue
Account Titles Account Code Account Titles
Current Liabilities 50-0001 Sales
Accounts Payable 50-0002 Sales Returns and Allowances

Expense
Pan Demic Capital 60-0001 Salaries Expense
Pan Demic Drawing 60-0002 Utilities Expense
60-0003 Rent Expense
60-0004 Advertising Expense