ch Book Print 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 101 Cash Credit $38,464 106 Accounts receivable 126 12,818 Computer supplies 2,545 128 Prepaid insurance 131 1,920 Prepaid rent 163 office equipment 3,200 8,100 164 Accumulated depreciation office equipment 167 168 20,400 Accumulated depreciation Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue @ 307 Connon stock 67,000 318 Retained earnings @ 319 Dividends 6,500 403 Computer services revenue 32, 524 612 Depreciation expense-Office equipment @ 613 Depreciation expense-Computer equipment @ 623 Wages expense 2,300 637 Insurance expense 640 Rent expense 652 Computer supplies expense e 655 Advertising expense 1.708 676 Mileage expense 614 677 Miscellaneous expenses 160 6B4 Repairs expense-Computer 795 Totals $99,524 $99,524 eferences Business Solutions had the following transactions and events in December 2019. Dec. 2 Paid $1,005 cash to Hillside Mall for Business Solutions share of moll advertising costs. 3 Paid $440 cash for minor repairs to the company's computer. 4 Received $4,750 cash from Alex's Engineering Co. for the receivable from November. 10 Paid cash to Lyn Addie for six days of work at the rate of $115 per day. 14 Notified by Alex's Engineering Co. that Business Solutions bid of $7,500 on a proposed project has been accepted. Alex's paid a $1,900 cash advance to Business Solutions. 15 Purchased $1,700 of computer supplies on credit from Harris Office Products. 16 Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. 20 Completed a project for Liu Corporation and received $5,875 cash. 22- Took the week off for the holidays. 26 28 Received $3,300 cash from Gomez Co. on its receivable. 29 Reimbursed S. Rey for business automobile mileage (580 miles at $9.24 per mile). 31 The company paid $1,100 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. a. The December 31 inventory count of computer supplies shows $610 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 pid 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. t. 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-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 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