Oct.

1

S. Rey invested $45,000 cash, a $20,000 computer system, and $8,000 of office equipment in the company in exchange for its common stock.

2

The company paid $3,300 cash for four months rent. (Hint: Debit Prepaid Rent for $3,300.)

3

The company purchased $1,420 of computer supplies on credit from Harris Office Products.

5

The company paid $2,220 cash for one years premium on a property and liability insurance policy. (Hint: Debit Prepaid Insurance for $2,220.)

6

The company billed Easy Leasing $4,800 for services performed in installing a new Web server.

8

The company paid $1,420 cash for the computer supplies purchased from Harris Office Products on October 3.

10

The company hired Lyn Addie as a part-time assistant for $125 per day, as needed.

12

The company billed Easy Leasing another $1,400 for services performed.

15

The company received $4,800 cash from Easy Leasing as partial payment on its account.

17

The company paid $805 cash to repair computer equipment that was damaged when moving it.

20

The company paid $1,728 cash for advertisements published in the local newspaper.

22

The company received $1,400 cash from Easy Leasing on its account.

28

The company billed IFM Company $5,208 for services performed.

31

The company paid $875 cash for Lyn Addie's wages for seven days' work.

31

The company paid $3,600 cash in dividends.

Nov.

1

The company reimbursed S. Rey in cash for business automobile mileage allowance (Rey logged 1,000 miles at $0.32 per mile).

2

The company received $4,633 cash from Liu Corporation for computer services performed.

5

The company purchased computer supplies for $1,125 cash from Harris Office Products.

8

The company billed Gomez Co. $5,668 for services performed.

13

The company received notification from Alex's Engineering Co. that Business Solutions' bid of $3,950 for an upcoming project is accepted.

18

The company received $2,208 cash from IFM Company as partial payment of the October 28 bill.

22

The company donated $250 cash to the United Way in the company's name.

24

The company completed work for Alex's Engineering Co. and sent it a bill for $3,950.

25

The company sent another bill to IFM Company for the past-due amount of $3,000.

28

The company reimbursed S. Rey in cash for business automobile mileage (1,200 miles at $0.32 per mile).

30

The company paid $1,750 cash for Lyn Addie's wages for 14 days' work.

30

The company paid $2,000 cash in dividends.

Prepare ledger accounts (in balance column format) and post the journal entries from requirement 1 to them.