After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30,2020 , unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2020) follows. Business Solutions had the following transactions and events in December 2020. Decenber 2 Paid $995 cash to Hillside Mall for Business solutions's share of mal1 advertining costs. December 3 Paid $460 cash for ninor repairs to the conpany's conputer. Decenber 4 Received $4,250 cash fron 10x. Engineering Co. for the receivable from November. December 10 Paid casb to tyn Addie for six days of work at the rate of 5110 per day. December 14 thotified by Alex's Engineering Company that Eusiness Solutions's bid of $8,000 on a proposed project has been accepted. Alex's paid a $1,700 cash advance to Dusiness Solutions. December 15 purchased $2,000 of conputer supplies on eredit from Harris office Products. Decenber 16 sent a reninder to Comez Conpany to pay the fee for services recorded on November 8 . Decenber 20 completed a project for Liu Corporation and received $6,225 cash. Decenber 2226 Took the week off for the holidays. December 28 Received $3,100 cash tron Gomez Cospany on its receivable. Decenber 29 Reimbursed 5. Rey for business automobile nileage (400 miles at $0,23 per mile). Decenber 31 the conpany paid $1,300 cash in dividends. The following additional focts 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 avallable. b. Three months have explred 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 hove expired. Required: 1. Prepare journal entries to record each of the December transoctions and events for Business Solutions. 2-a. Prepare adjusting entries to reflect a through f 2-b. Post the journal entries to record each of the December transactions from Requirement 1 and adjusting entries from Requirement 2A. After completing Requirement 7, post the closing entries to the general ledgec accounts 3. Prepare an adjusted trial balance as of December 31,2020. 4. Prepare an income statement for the three months ended December 31, 2020, 5. Prepare a stotement of retained earnings for the three months ended December 31, 2020. 6. Prepare a balance sheet as of December 31,2020 7. Record the necessary closing entries os of December 31,2019 and then post the closing entries to the general lodger in Requirement 2B. 8. Prepare a post.closing trial balance as of December 31,2020