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. Number 101 106 Account Title Cash Accounts receivable. 126 Computer supplies 128 Prepaid insurance 131 Prepaid rent 163 office equipment 164 Accumulated depreciation-office equipment, 167 Computer equipment 168 Accumulated depreciation-Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 307 Common stock 318 Retained earnings 319 Dividends 403 Computer services revenue 612 613 623 Wages expense 637 6401 Rent expense 652 655 Depreciation expense-office equipment Depreciation expense-Computer equipment Insurance expense Computer supplies expense Advertising expense 676 Hileage expense 677 Miscellaneous expenses 684 Repairs expense-Computer 901 Debit Credit. $ 38.764 13,518 2,545 2,160 2,960 0,500 0 22,000 0 0 66,000 0 6,300 36,394 0 2,450 0 1,628 644 160 765 Incone summary Totals $ 102,394 $ 102,394 Business Solutions had the following transactions and events in December 2021. December 2 Paid $1,000 cash to Hillside Mall for Business Solutions's share of mall advertising costs. December 3 Paid $460 cash for minor repairs to the company's computer. December 4 Received $4,050 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 $120 per day. December 14 Notified by Alex's Engineering Company that Business Solutions's bid of $7,400 on a proposed project has been accepted. Alex's paid a $1,800 cash advance to Business Solutions. December 15 Purchased $1,200 of computer supplies on credit from Harris Office Products. December 16 Bent 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 $6,275 cash. December 22-26 Took the week off for the holidays. December 28 Received $3,000 cash from Gones Company on its receivable. December 29 Beimbursed 5. Rey for business automobile nileage (500 miles at 50.27 per mile). December 31 Paid $1,400 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 $680 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 $120 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. 7. Record the necessary closing entries as of December 31, 2021. 8. Prepare a post-closing trial balance as of December 31, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 2B Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger. 101: Cash 106: Accounts Receivable Date Debit Credit Balance Date Debit Credit Balance December 01 38,764 December 011 13,518 126: Computer Supplies Date Debit Credit Balance December 01 2,545 Date December 01 128: Prepaid Insurance Debit Credit Balance 2,160 Date December 01 131: Prepaid Rent Debit Credit Balance 2,960 Date December 011 163: Office Equipment Debit Credit Balance 8.500 164: Accumulated Depreciation-Office Equipment Date December 01 Debit Credit Balance 0 Date December 01 168: Accumulated Depreciation-Computer Equipment nala Debit 167: Computer Equipment Debit Credit Balance 22,000 201: Accounts Payable 168: Accumulated Depreciation-Computer Equipment Date December 011 Date December 01 Date December 01 Debit Credit 210: Wages Payable Debit Balance Date 0 December 01 Credit Balance Date December 01 307: Common Stock Debit Date December 01 319: Dividends Debit Credit Balance Date 66,000 December 01 Credit Balance 6,300 Date December 01 612: Depreciation Expense-Office Equipment Date December 011 Date December 01 Date Debit Credit 623: Wages Expense Debit 201: Accounts Payable Debit Credit Balance 236: Unearned Computer Services Revenue Debit Credit 318: Retained Earnings Debit Balance Credit Balance 403: Computer Services Revenue Debit Credit Balance 36,394 613: Depreciation Expense-Computer Equipment Balance 0 Date December 01 Credit Balance Date 2,450 December 01 640: Rent Expense Debit Credit Balance Date Debit Credit + 637: Insurance Expense Debit Balance Credit Balance 652: Computer Supplies Expense Date December 01 Date December 01 640: Rent Expense Debit Credit Balance Date 0 December 01 655: Advertising Expense Debit Credit Balance Date 1,628 December 01 Date December 01 677: Miscellaneous Expense Debit Credit Balance 160 Date December 01 652: Computer Supplies Expense Debit Credit 676: Mileage Expense Debit Balance 0 Credit Balance 644 684: Repairs Expense-Computer Debit Credit Balance 765 Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 28 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Prepare an adjusted trial balance as of December 31, 2021. Cash Accounts receivable Computer supplies BUSINESS SOLUTIONS Adjusted Trial Balance December 31, 2021 Account Title Debit Credit Prepaid insurance Prepaid rent Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation-Computer equipment Accounts payable Wages payable Uneamed computer services revenue Common stock Retained earnings Dividends Computer services revenue Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer Totals $ 0 $ < Required 28 Required 4> Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 2B Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Prepare an income statement for the three months ended December 31, 2021. BUSINESS SOLUTIONS Income Statement For Three Months Ended December 31, 2021 Revenue Expenses Total expenses 0 $ 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 28 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Prepare a statement of retained earnings for the three months ended December 31, 2021. BUSINESS SOLUTIONS Statement of Retained Earnings For Three Months Ended December 31, 2021 Retained earnings, October 1, 2021 Retained earnings, December 31, 2021