CUMULATIVE PROBLEM - Darcy Systems This comprehensive problem starts in this chapter and continues in Chapters 3, 4, and 5. On October 1, 2020, Darcy Zaylo organized a computer service company called Darcy Systems. Darcy is organized as a sole proprietorship and will provide consulting services, computer system installations, and custom program development. Zaylo has adopted the calendar year Dor reporting, and expects to prepare the company's first set of financial statements as of Required 1. Set up balance column accounts based on the chart of accounts provided. 2. Prepare journal entries to record each of the following October transactions. 3. Post the October entries. 4. Prepare a trial balance at October 31, 2020. Required . Set up balance column accounts based on the chart of accounts provided. Prepare journal entries to record each of the following October transactions. . Post the October entries. . Prepare a trial balance at October 31,2020. Prepare an income statement and a statement of changes in equity for the month endec October 31,2020 , as well as a balance sheet at October 31,2020. Oct. 1 Darcy Zaylo invested $50,000 cash, a used computer system valued at $11,640, and $22,800 of office equipment in the business. 2 Paid six months of rent in advance; $14,850. 3 Purchased computer supplies on credit for $3,100 from Morris Supplies. 5 Paid $15,120 cash for one year's premium on a property and liability insurance policy. Billed J\&J Technologies $4,325 for installing a new computer system and providing J\&J Technologies's employees with training. 8 Paid for the computer supplies purchased from Morris Supplies. 10 Hired Chris Douglas as a part-time assistant for $240 per day, as needed. 12 Billed J\&J Technologies another $2,480 for computer services rendered. 15 Received $2,000 from J\& J Technologies on its account. 17 Paid $850 to repair equipment damaged when moving into the new office. 20 Paid $1,900 for an advertisement in the local newspaper. 22 Received the balance owing from J\&J Technologies on its account. 28 Billed Wilson Dance Studios $4,600 for services. 31 Paid Chris Douglas for 13 days' work. 31 Darcy Zaylo withdrew $1,700 cash from the business for personal use