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 $2021.$

December $2$ Paid $$1,025$ cash to Hillside Mall for Business Solutions's share of mall advertising costs.

December $3$ Paid $$50,$ cash for minor repairs to the company's computer.

December $4$ Received $$3,950$ 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 $$125$ per day.

December $14$ Notified by Alex's Engineering Company that Business Solutions's bid of $$7,e$ on a proposed project has been

accepted. Alex's paid a $$1,50$ cash advance to Business Solutions.

December $15$ Purchased $$1,1in$ 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 $28$ Completed a project for Liu Corporation and received $$5,625$ cash.

December $22-26$ Took the week off for the holidays.

December $28$ Received $$3,00$ cash from Gomez Company on its receivable.

December $29$ Reimbursed S$.$ Rey for business automobile mileage $(60$ miles at $$0\mathrm{.}32$ per mile$).$

December $31$ Paid $$1,500$ 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 $$580$ 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 $$125$ 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 $31,2021.$