2-Online (100 points) i TULUSL Saved -~~- -~-~ Business Solutions had the following transactions and events in December 2021. December 2 Paid $985 cash to Hillside Mall for Business Solutions's share of mall advertising costs. December 3 Paid $430 cash for minor repairs to the company's computer. December 4 Received $4,750 cash from Alex's Engineering Company for the receivable from November. December 10 Paid cash to Lyn Addie for six days of work at the rate of $115 per day. December 14 Notified by Alex's Engineering Company that Business Solutions's bid of $7,500 on a proposed project has been accepted. Alex's paid a $2,300 cash advance to Business Solutions. December 15 Purchased $2,000 of computer supplies on credit from Harris Office Products. December 16 Sent a reminder to Gomez Company to pay the fee for services recorded on November 8. December 20 Completed a project for Liu Corporation and received $5,875 cash. December 22-26 Took the week off for the holidays. December 28 Received $3,500 cash from Gomez Company on its receivable. December 29 Reimbursed S. Rey for business automobile mileage (500 miles at $0.26 per mile). December 31 S. Rey withdrew $1,000 cash from the company for personal use. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months. a. The December 31 inventory count of computer supplies shows $610 still available. b. Three months have expired since the 12-month insurance premium was paid in advance. c. As of December 31, Lyn Addie has not been paid for four days of work at $115 per day. d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value. f. Three of the four months' prepaid rent have expired. Required: 1. Prepare journal entries to record each of the December transactions and events for Business Solutions. 2-a. Prepare adjusting entries to reflect a through f 2-b. Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger. 3. Prepare an adjusted trial balance as of December 31, 2021.

Business Solutions had the following transactions and events in December 2021. December 2 Paid S9s5 cash to Hillside Mall for Business Solutions's share of nall advertising costs. Decemer 3 Daid $430 cash for einor repairs to the coepany's coesputer. Decenber 4 lleceived 34,75e cash froen Alex's Enedineering Coepany for the receivable fron Novenber. Decenber 10 Paid cash to tyn Addie for sik days of work at the rate of $115 per day. Deceaber 14 Motified by Alex's Engineering Coepany that Uusiness Solutions's bid of $7,509 on a proposed project fias been accepted. Alex's pais a $2,300 cash advance to business Solutions. December 15 Purchased $2,000 of cooputer supplies on credit from Harris office Products. December 16 Sent a reninder to Gowez Coepsny to pay the fee for services recorded on fovenber 1. Decenber 20 coeptated a project for 110 Corperation and received 55,375 cash. Decenter 2226. Took the week off for the holidays. Decenter il $. Fey withdeu $1,000 cash from the coepany for persenal use. The following additional facts are collected for use in making odjusting entries prior to preparing financial statements far the company's first thee months. a. The December 31 inventory count of computer supplies shows $610 still avaliable. b. Three months have expled since the 12 -month insurance premium was paid in advance c. As of December 31 i yn Addie has not been paid for four days of work at $115 per day d. The computer system, acquired on October 1 , is expected to have a fouryear life with no salvage value. e. The office equipment, acquired on October 1, is expected to have a five year life with no salvage value. t. Three of the four months prepald rent have expired. Required: 1. Prepare joumal entries to tecord each of the December transactions and events for Business Solutions 2-o. Prepare adjusting entries to reflect a through 2-b. Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the leciger. 3. Prepare an odiusted trial batance as of December 31,2021