On October 1, 2016, Bernie the Bison launched a tUImpU BISON Systems, which provides consulting services, computer system installations, and custom program development. Bernie adopts the calendar year for reporting purposes and expects to prepare the company's first set of financial statements on December 31, 2016. The company's initial chart of accounts follows. No. Account 101 Common Stock No Account Cash Accounts Receivable 106Dividends Computer Supplies 126Computer Services Revenue 403 307 319 623 655 676 Computer Equipment167 Miscellaneous Expenses 677 Accounts Payable 201Repairs Expense-Computer684 Prepaid Insurance Prepaid Rent Office Equipment 128Wages Expense 131 Advertising Expense 163Mileage Expense Required 1. Prepare journal entries to record each of the following transactions for Success Systems. Oct. 1Bernie the Bison invested $55,000 cash, a $20,000 computer system, and $8,000 of office equipment in the company in exchange for its common stock 2The company paid $3,300 cash for four months' rent. (Hint: Debit Frepaid Rent for $3,300.) 3The company purchased $1,420 of computer supplies on credit from Harris Office Products 5The company paid $2,220 cash for one year's premium on a property and liability insurance policy. (Hint: Debit Prepaid Insurance for $2,220.) 6The company billed Easy Leasing $4,800 for services performed in installing a new Web server. 8The company paid $1,420 cash for the computer supplies purchased from Harris Office Products on October3 10 The company hired Lyn Addie as a part-time assistant for $125 per day, as needed 12The company billed Easy Leasing another $1,400 for services performed. 15The company received $4,800 cash from Easy Leasing as partial payment on its account 17The company paid $805 cash to repair computer equipment that was damaged when movina it