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 it transactions for October and November of 2021) follows. Business Solutions had the following transactions and events in December 2021. December 2 Paid $990 cash to llilside Mall for Business solutions's share of mall advertising costs. December 3 Paid $480 cash for minor repairs to the company's computer. December 4 Received $4,850 cash from Alex's Engineering Conpany for the receivable fron 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 $7,700 on a proposed project has been accepted. Alex's paid a $2,200 cash advance to Business Solutions. Business Solutions had the following transactions and events in December 2021 . December 2 Paid $990 cash to Hillside Mall for Business Solutions's share of mall advertising costs. Decenber 3 Paid $480 cash for minor repairs to the company's conputer. Decomber 4 Received 54,850 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 $7,700 on a proposed project has been accepted. Alex's paid a $2,200 cash advance to Business solutions. December 15 Purchased $1,900 of computer supplies on credit from Barris office products. Decenber 16 sent a reminder to comez Company to pay the fee for services recorded on llovenber 8. Decenber 20 Completed a project for Liu Corporation and received $6,375 cash. December 22-26 Took the week of for the holidays. December 28 received $3,200 cash from Gonez Company on its receivable. December 29 Reimbursed 8 . Rey for buniness automobile mileage (500=11 es at $0.30 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 $590 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 month' 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 joumal entries to record each of the December transactions, adjusting entries to the accounts in the ledgec. 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. 640: Rent Expense \begin{tabular}{|l|l|l|l|} \hline Dato & Debit & Credit & Balance \\ \hline December 01 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} 652: Computer Supplies Expenso \begin{tabular}{|r|l|l|l|} \hline Date & Debit & Credit & Balance \\ \hline December 01 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ 676: Mileage Expense } \\ \hline Date & Dobit & Credit & Balance \\ \hline December 01 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|r|} \hline \multicolumn{5}{|c|}{ 684: Repairs Expenso-Computer } \\ \hline Date & Debit & Credit & Balance \\ \hline December 01 & & & 785 \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}