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 Account Title Cash 106 Accounts receivable. 126 Computer supplies 128 Prepaid insurance 131 Prepaid rent 163 office equipment 164 167 Computer equipment 168 Accumulated depreciation-office equipment. 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 637 640 Rent expense 652 655 Depreciation expense-Office equipment Depreciation expense-Computer equipment Insurance expense Computer supplies expense Advertising expense 676 Mileage expense 677 Miscellaneous expenses 684 Repairs expense-Computer 901 Income summary Totals Debit $ 38,764 Credit 13,518 2,545 2,160 2,960 8,500 22,000 66,000 0 6,300 36,394 0 0 2,450 0 0 1,628 644 160 765 $ 102,394 $ 102,394 Business Solutions had the following transactions and events in December 2021. December 2 Paid $1,000 cash to Hillside Hall 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 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 $6,275 cash. December 22-26 Took the week off for the holidays. December 28 Received $3,000 cash from Gomez Company on its receivable. December 29 Reimbursed S. Rey for business automobile mileage (500 miles at $0.27 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 bok 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. 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 classified balance sheet as of December 31, 2021. BUSINESS SOLUTIONS Balance Sheet December 31, 2021 Assets Current assets Plant assets Liabilities Equity 0 0 0 0 0 Total equity Total Liabilities and Equity $ 0 $ 2-b. Post the journal entries to record each of the December transactions, adjusting entries to the am 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. 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 Requi Record the necessary closing entries as of December 31, 2021. View transaction list Journal entry worksheet < 1 2 3 4 Record the entry to close the revenue account(s). Note: Enter debits before credits. Date December 31 General Journal Debit Credit Clear entry Record entry View general journal Required 1 Required 2A Required 2B Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Record the necessary closing entries as of December 31, 2021. View transaction list Journal entry worksheet > 1 2 3 4 Record the entry to close the expense account(s). Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal Required 1 Required 2A Required 2B Required 3 Required 4 Required 5 Required 6 Required 7 Record the necessary closing entries as of December 31, 2021. View transaction list Journal entry worksheet < 1 2 3 4 Record the entry to close the Income summary account. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal < Required 6 Required 8 > R Complete this question by entering Required 1 Required 2A Required 2B Required 3 Required 4 Required 5 Required 6 Required 7 Required Record the necessary closing entries as of December 31, 2021. View transaction list Journal entry worksheet < 1 2 3 Record the entry to close the dividends account. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal < Required 6 Required 8 > 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 a post-closing trial balance as of December 31, 2021. BUSINESS SOLUTIONS Post-Closing Trial Balance December 31, 2021 Totals Debit Credit $ 0 $ 0