OK After the success of the company's first two months, Santana Rey continues to operate Business Solutions, The November 30, 2021, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2021) follows. Number Account Title Debit 101 Cash Credit $ 38,964 106 Accounts receivable 13, 118 126 Computer supplies 128 2,645 Prepaid insurance 131 2,100 Prepaid rent 3,260 163 Office equipment 8,300 164 Accumulated depreciation-0ffice equipment $0 167 Computer equipment 20,400 168 Accumulated depreciation-Computer equipment 201 Accounts payable 3 210 Wages payable @ 236 Unearned computer services revenue 387 Common stock 70,000 318 Retained earnings Dividends 6,300 403 Computer services revenue 30,784 612 Depreciation expense-Office equipment @ 613 Depreciation expense-Computer equipment 623 Wages expense 2,400 637 Insurance expense 640 Rent expense 652 Computer supplies expense 655 Advertising expense 1,698 676 Mileage expense 654 677 Miscellaneous expenses 210 684 Repairs expense-Computer 735 981 Income summary Totals $ 100,784 $ 100,784 ht 319 ences @ Business Solutions had the following transactions and events in December 2021. December 2 Paid $1,805 cash to Hittside Mall for Business Solutions's share of mall advertising costs. December 3 Paid $498 cash for minor repairs to the company's computer. December 4 Received $4,450 cash from Alex's Engineering Company for the receivable from November. December 19 Paid cash to Lyn Addie for six days of work at the rate of $100 per day. December 14 Notified by Alex's Engineering Company that Business Solutions's bid of $7,000 on a proposed project has been accepted. Alex's paid a $1,600 cash advance to Business Solutions. December 15 Purchased $1,700 of computer supplies on credit from Harris Office Products. narar 16 Cant a reminder to y CARRU A fanfar enruta reenr Nanahar A w Prev 1 of 1 i Next > -aw 11 December 16 Sent a reminder to Gonez Company to pay the fee for services recorded on November 8. December 20 Completed a project for Liu Corporation and received $5,925 cash. December 22-26 Took the week off for the holidays. December 28 Received $3,800 cash from Gonez Company on its receivable. December 29 Reimbursed S. Rey for business automobile mileage (600 miles at $0.27 per mile). December 31 Paid $1,200 cash for 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 $660 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 paid for four days of work at $100 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. Three of the four months prepaid rent have expired. ces Required: 1. Prepare journal entries to record each of the December transactions. Post those entries to the accounts in the ledger, 2-3. Prepare adjusting entries to reflect a through 2-b. Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger, 3. Prepare an adjusted trial balance as of December 31, 2021. 4. Prepare an income statement for the three months ended December 31, 2021 5. Prepare a statement of retained earnings for the three months ended December 31, 2021. 6. Prepare a classified balance sheet as of December 31, 2021. 7. Record the necessary closing entries as of December 31, 2021 8. Prepare a post-closing trial balance as of December 31, 2021 Complete this question by entering your answers in the tabs below. Required 1 Required 24 Required 28 Required to Required 4 Required 5 Required 6 Required 7 Required 8 Prepare journal entries to record each of the December transactions. Post those entries to the accounts in the ledger. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) 1 of 1 Prev FIE Next