first three segments of this comprehensive problem were presented in Chapters 2, 3, and 4. Ifthose segments have not been completed, the assignment can begin at this point. However, youshould use the Working Papers1 that accompany this text because they reflect the account balances that resulted from posting the entries required in Chapters 2, 3, and 4.Earlier segments of this problem have described how Aster Turane created Aster Systems onOctober 1, 2020. The company has been successful, and its list of customers has started to grow.To accommodate the growth, the accounting system is ready to be modified to set up separate accounts for each customer. The following list of customers includes the account number used for each account and any balance as of the end of 2020. Wilson decided to add a fourth digit witha decimal point to the 106 account number that had been used for the single Accounts Receivable account. This modification allows the existing chart of accounts to continue beingused. The list also shows the balances that two customers owed as of December 31, 2020: Customer AccountNo.

Dec. 31 Balance

Kinsetta Groceries106.10Gillette Industries 106.20Norton Electric 106.30Whistler Resort 106.42,200.00Starburst Inc. 106.50Dinwoody Entertainment106.62,430.00Sharp Co.106.70Lendrum Sales106.80Fashion Incorporated106.90 In response to frequent requests from customers, Aster Turane has decided to begin selling computersoftware. The company will extend credit terms of 1/10, n/30 to customers who purchase merchandise. No cash discount will be available on consulting fees. The following additional accountswere added to the General Ledger to allow the system to account for the company's new merchandising activities:

Account Number

Account Name119Merchandise Inventory413Sales414Sales Discounts415Sales Returns and Allowances502Cost of Goods SoldBecause the accounting system does not use reversing entries, all revenue and expense accountshave zero balances as of January 1, 2021. 1 If students have not purchased the Working Papers package, the Working Papers for the SerialProblem are available on the Connect website.. Required1. Prepare journal entries to record each of the following transactions for Aster Systems, assuminga perpetual system.Jan. 4Paid Donald Gee for two days at the rate of $345 per day, in addition to the four unpaid days from the prior year. 5Aster Turane invested an additional $15,000 cash in the business. 7Purchased $8,500 of merchandise from LedCor with terms of 1/10, n/30, FOB shipping point. 9Received the balance owing from Dinwoody Entertainment. 11Completed five-day project for Kinsetta Groceries and billed them $3,500, which is the total price of $6,500 less the advance payment of $3,000. 13Sold merchandise with a retail value of $6,000 and a cost of $4,800 to Starbust Inc. with terms of 1/10, n/30, FOB shipping point. 15Paid $375 for freight charges on the merchandise purchased on January 7. 16Received $3,800 cash from Sharp Co. for computer services performed today. 17Paid LedCor for the purchase on January 7. 20Starburst Inc. returned $600 of defective merchandise from its purchase on January 13. The returned merchandise, which had a cost of $500, was scrapped. 22Received the balance due from Starburst Inc. 24Returned defective merchandise to LedCor and accepted credit against future purchases. Its cost, net of the discount, was $297. 26Purchased $14,000 of merchandise from LedCor with terms of 1/10, n/30, FOB destination. 26Sold merchandise with a cost of $6,500 for $7,800 to Lendrum Sales; 1/10, n30. 29Received a $297 credit memo from LedCor concerning the merchandise returned on January 24. 31Paid Donald Gee for 12 days' work at $345 per day. Feb. 1Paid $4,650 for another three months' rent in advance at the landlord's request. 3Paid LedCor for the balance due. 5Paid $780 to the local newspaper for advertising. 11Received the balance due from Kinsetta Groceries for fees billed on January 11. 15Aster Turane withdrew $1,500 cash for personal use. 23Sold merchandise with a cost of $3,600 for $4,320 on credit to Sharp Co.; terms 1/10, n30. 26Paid Donald Gee for four days' work at $345 per day. 27Reimbursed Aster Turane's business automobile expenses for 970 kilometres at $1.60 per kilometre. Mar. 8Purchased $1,200 of computer supplies from Triple-One Supplies on credit. 9Received the balance due from Sharp Co. for merchandise sold on February 23. 11Repaired the company's computer paying cash of $120. 16Received $3,890 cash from Fashion Incorporated for computing services. 19Paid the full amount due to Triple-One Supplies. 24Billed Norton Electric for $3,080 of computing services completed today. 25Sold merchandise with a cost of $1,500 for $1,800 to Gillette Industries; 1/10, n30. 30Sold merchandise with a cost of $2,200 for $2,640 on credit to Whistler Resort. 31Reimbursed Aster Turane's business automobile expenses for 490 kilometres at $1.60 per kilometre. 2. Post the journal entries to the accounts in the company's General Ledger. (Use asset, liability,and equity accounts that start with balances as of December 31, 2020.) 3. Prepare a partial work sheet consisting of the first six columns showing the unadjusted trialbalance, the March 31 adjustments described in (a) through (g) below, and the adjusted trial balance. Do not prepare closing entries and do not journalize the adjusting entries or post them tothe ledger.a.The March 31 computer supplies on hand is $160. b.Three more months have passed since the company purchased the annual insurance policy at the cost of $8,640. c.Donald Gee has not been paid for three days of work. d.Three months have passed since any prepaid rent cost has been transferred to expense. The monthly rent is $1,550. e.Depreciation on the computer for January through March is $252. f.Depreciation on the office equipment for January through March is $300. g.The March 31 inventory of merchandise is $3,480. 4. Prepare an interim single-step income statement for the three months ended March 31, 2021.List all expenses without differentiating between selling expenses an general and administrativeexpenses.5. Prepare an interim statement of changes in equity for the three months ended March 31, 2021.6. Prepare an interim classified balance sheet as of March 31, 2021.