On October 1, 2013, Adria Lopez launched a computer services company called Success Systems, which provides consulting services, computer system installations, and custom program development. Adria adopts the calendar year for reporting purposes and expects to prepare the companys first set of financial statements on December 31, 2013. The companys initial chart of accounts follows. Account No. Account No. Cash 101 Common Stock 307 Accounts Receivable 106 Dividends 319 Computer Supplies 126 Computer Services Revenue 403 Prepaid Insurance 128 Wages Expense 623 Prepaid Rent 131 Advertising Expense 655 Office Equipment 163 Mileage Expense 676 Computer Equipment 167 Miscellaneous Expenses 677 Accounts Payable 201 Repairs Expense Computer 684 Oct. 1 Adria Lopez invested $48,000 cash, a $24,000 computer system, and $9,000 of office equipment in the company in exchange for its common stock. 2 The company paid $3,260 cash for four months' rent. (Hint: Debit Prepaid Rent for $3,260.) 3 The company purchased $1,340 of computer supplies on credit from Harris Office Products. 5 The company paid $1,920 cash for one year's premium on a property and liability insurance policy. (Hint: Debit Prepaid Insurance for $1,920.) 6 The company billed Easy Leasing $5,300 for services performed in installing a new Web server. 8 The company paid $1,340 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 $140 per day, as needed. 12 The company billed Easy Leasing another $2,200 for services performed. 15 The company received $5,300 cash from Easy Leasing as partial payment on its account. 17 The company paid $790 cash to repair computer equipment that was damaged when moving it. 20 The company paid $1,723 cash for advertisements published in the local newspaper. 22 The company received $2,200 cash from Easy Leasing on its account. 28 The company billed IFM Company $5,508 for services performed. 31 a The company paid $980 cash for Lyn Addies wages for seven days' work. 31 b The company paid $3,600 cash in dividends. Nov. 1 The company reimbursed Adria Lopez in cash for business automobile mileage allowance (Lopez logged 1,000 miles at $0.31 per mile). 2 The company received $5,133 cash from Liu Corporation for computer services performed. 5 The company purchased computer supplies for $1,115 cash from Harris Office Products. 8 The company billed Gomez Co. $5,968 for services performed. 13 The company received notification from Alex's Engineering Co. that Business Solutions' bid of $4,250 for an upcoming project is accepted. 18 The company received $2,308 cash from IFM Company as partial payment of the October 28 bill. 22 The company donated $170 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 $4,250. 25 The company sent another bill to IFM Company for the past-due amount of $3,200. 28 The company reimbursed Adria Lopez in cash for business automobile mileage (1,200 miles at $0.31 per mile). 30 a The company paid $1,960 cash for Lyn Addie's wages for 14 days' work. 30 b The company paid $1,000 cash in dividends.