After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows. No. Account Title Debit Credit 181 Cash $ 38,564 106 Accounts receivabze 13,318 126 Computer supplies 2,645 128 Prepaid Insurance 2.100 131 Prepaid rent 3,020 163 Office equipment 8,600 164 Accumulated depreciation Office equipment 5 167 Computer equipment 21,200 168 Accumulated depreciation-Computer equipment @ 281 Accounts payable @ 210 Wages payable 256 Uncerned computer services revenue 307 Connon stock 63,000 318 Retained earnings 319 Dividends 6. Sea 403 Computer services revenue 38,749 Depreciation expenserrice equipment 613 Depreciation expense-Computer equipment 623 Wages expense 2,475 2 Insurance expense Rent expense 652 Computer supplies expense O 655 Advertising expense 1,685 676 Mileage expense 684 677 Miscellaneous expenses 180 884 Repairs expense-Computer 275 Totals 5101,749 $101.749 612 Business Solutions had the following transactions and events in December 2019 Der. 2 Paid $968 cash to Hillside Mall for Business Solutions share of all advertising costs. 3. Paio 3500 cash for minor repairs to the company's computer. 4 Received $4,550 cash from Alex's Engineering Co. for the receivable from November 10 Paid cash to Tyn Addie for six days of work at the rate of $120 per day. 14 Notified by Alex's Engineering Co. that Business Solutions is of $7,300 on a proposed project has been accepted. Alex's Daid. 52. cash advance to Business Solutions. 15 Purchased $1,700 of computer supplies on credit from Harris Office Products 16 Sent reninder to Gomez Co. to pay the fee for services recorded on November 8 2e Completed project for Liu Corporation and received $5,875 cash. 22- took the week off for the holidays. 28 Received $3,500 cosh from dome Co. on its receivable 79 Reimbursed S, Rey for business automobile Wileage 600 miles at $6.30 per mile). 31 The company paid $1,300 cash in 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 Prex 1 of 1 !!! Next oblem Parti LICE a. The December 31 inventory count of computer supplies shows $610 still avaliable 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 omice equipment acquired on October 1, is expected to have a five-year life with no salvage value 1. Three of the four months prepaid rent have expired Required: 1. Prepare journal entries to record each of the December transactions and events for Business Solutions. 2-8. Prepare adjusting entries to reflect a through 2-b. Post the journal entries to record each of the December transactions from Requirement 1 and adjusting entries from Requirement 24. After completing Requirement post the closing entries to the general ledger accounts 3. Prepare an adjusted trial balance as of December 31, 2019 4. Prepare an income statement for the three months ended December 31, 2019 5. Prepare a statement of retained earnings for the three months ended December 31, 2019, 6. Prepare a balance sheet as of December 31, 2019 7. Record the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger in Requirement 28 8. Prepare a post-closing trial balance as of December 31, 2019 Complete this question by entering your answers in the tabs below. Req1 Reg 2A Red 20 Red Reg4 Reus Reg 6 Reg? Reg 8 Prepare journal entries to record each of the December transactions and events for Business Solutions. (If no entry is required for a transaction/event, select "No Journal Entry Itequired in the first account field) View transactional Journal entry worksheet 1 2 3 4 5 7 8. 11 Pald $960 cash to Hillside Malt for Business Solutions share of mall advertising costs Note Edebits afons crafts Date General Journal Debit Credit