After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30,2021 , unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2021) follows. Business 5olutions had the following transactions and events in December 2021. Decenber 2 Paid s95e cash to Hillside Ma11 for Eusiness Solutions's share of mall advertising costs. December 3 Paid $500 cash for minor repairs to the company's computer. December 4 Received 54,250 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 $110 per day. December 14 Notified by Alex's Engineering Company that Business Solutions's bid of $7,700 on a proposed preject has been Decenber 15 purchased 51,600 of conputer supplies on credit from Harris office Products. December 26 Sent a reminder to Gonez Company to pay the fee for services recorded on November 8. December 20 completed a project for Liu Corporation and received $6,025 cash. Decenber 2226 Took the week off for the holidays. Decenter 28 Received $3,200 cash from Gomez Company on its receivable. becember 29 Reimbursed, 5 . Rey for business automobile mileage (4ee miles at 50,32 per mile). The following additionol facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months. 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 $660 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 $110 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. 1. Three of the four months' prepaid rent have expired. Required: 1. Prepare journal entries to record each of the December transactions. Post those entries to the accounts in the ledger. 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. 4. Prepare an income statement for the three months ended December 31,2021. 5. Prepare a statement of retained earnings for the three months ended December 31,2021 . 6. Prepare a ciassified balance sheet as of December 31,2021. 7. Record the necessary closing entries as of December 31,2021 . 8. Prepare a post-closing trial balance as of December 31, 2021. After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30,2021 , unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2021) follows. Business Solutions had the following transactions and events in December 2021 Decerber 2 Paid s95e cash to Hil1side Mal1 for Business Solutions's share of mall advertising costs. Decenber 3 Paid ssee cash for minor repairs to the conpany's computer. oecenber 4 Received 54,250 cash from Alex's Engineering Company for the receivable from Novenber. December 10 Paid cash to Lyn Addie for six days of work at the rate of $110 per day. Decenber 14 iotified by Alex's Engineering Company that Business Solutions's bid of $7, 7 ee on a proposed project has been accepted. Alex's paid a 52 , e6e cash advance to Business Solutions. Oecenber 15 Purchased $1,600 of computer supplies on credit from Harris office Products. gecenber 26 Sent a reninder to Gonez Company to pay the fee for services recorded on Novenben 8. Decenber 20 conpleted a project for tiu corporation, and recoived $6,025 cash. December 22-26 Took the week off for the holidays. Decenber 28 Received $3,200 cosh from Gomez Company on Its receivable. Decenber 29 heimbursed 5. Rey for business autonobile mileage (4ee miles at se, 32 per aile). ovcenber 31 Paid $1,100 cash for dividends. 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 $660 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 $110 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. Post those entries to the accounts in the ledger. 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 4. Prepare an income statement for the three months ended December 31, 2021. 5. Prepare a statement of retained earnings for the three months ended December 31, 2021. 6. Prepare a classified balance sheet as of December 31,2021. 7. Record the necessary closing entries as of December 31,2021. 8. Prepare a post-closing trial balance as of December 31,2021