Hi , Can you please help me to resolve this homework . i didn't missed to write cash in journal entry while formulating journal entry for mileage expenses. i did submit this question and was not answered properly. please help me with this asap

Thanks in advance

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The error has been found in your journal entry (s.no 16) . The complete entry should be

DateAccountDrCr Mileage expenses$320 Cash $320 Mileage expenses paid in cash

Explanation:

You have missed to write cash in journal entry while formulating journal entry for mileage expenses.

Final answer

The complete entry is:-

Mileage expenses Dr $ 320

Cash $ 320

On October 1, 2021, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. Rey adopts the calendar year for reporting purposes and expects to prepare the company's first set of financial statements on December 31, 2021. Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. October 1 S. Rey invested $45,000 cash, a $20,000 computer system, and $8,000 of office equipment in the company. October 2 The company paid $3,300 cash for four months' rent. (The company's policy is to record prepaid expenses in balance sheet accounts.) October 3 The company purchased $1,420 of computer supplies on credit from Harris Office Products. October 5 The company paid $2,220 cash for one year's premium on a property and liability insurance policy. (The company's policy is to record prepaid expenses in balance sheet accounts.) October 6 The company billed Easy Leasing $4,800 for services performed in installing a new web server. October 8 The company paid $1,420 cash for the computer supplies purchased from Harris Office Products on October 3 . October 10 The company hired Lyn Addie as a part-time assistant. October 12 The company billed Easy Leasing another $1,400 for services performed. October 15 The company received $4,800 cash from Easy Leasing as partial payment on its account. October 17 The company paid $805 cash to repair computer equipment that was damaged when moving it. October 20 The company paid $1,728 cash for advertisements published in the local newspaper. October 22 The company received $1,400 cash from Easy Leasing on its account. October 28 The company billed IFM Company $5,208 for services performed. October 31 The company paid $875 cash for Lyn Addie's wages for seven days' work. October 31 S. Rey withdrew $3,600 cash from the company for personal use. November 1 The company reimbursed S. Rey in cash for business automobile mileage allowance (Rey logged 1,000 miles at $0.32 per mile). November 2 The company received $4,633 cash from Liu Corporation for computer services performed. November 5 The company purchased computer supplies for $1,125 cash from Harris Office Products. November 8 The company billed Gomez Company $5,668 for services performed. November 13 The company agreed to perform future services for Alex's Engineering Company. No work has yet been performed. November 18 The company received $2,208 cash from IFM Company as partial payment of the October 28 bill. November 22 The company paid $250 cash for miscellaneous expenses. Hint: Debit Miscellaneous Expense for $250. November 24 The company completed work for Alex's Engineering Company and sent it a bill for $3,950. November 25 The company sent another bill to IFM Company for the past-due amount of $3,000. November 28 The company reimbursed S. Rey in cash for business automobile mileage (1,200 miles at $0.32 per mile). November 30 The company paid $1,750 cash for Lyn Addie's wages for 14 days' work. November 30 S. Rey withdrew $2,000 cash from the company for personal use. Answer is not complete. Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions of Business Solutions, entering the debits before the credits. Each transaction will automatically be posted to the General Ledger and the Trial Balance as soon as you click "Record Entry". If no journal entry is required, select "No journal entry required" in the first account field