On October 1, 2019, 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 companys first set of financial statements on December 31, 2019. The companys initial chart of accounts follows. Account No. Account No. Cash 101 S. Rey, Capital 301 Accounts Receivable 106 S. Rey, Withdrawals 302 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 ExpenseComputer 684 Oct. 1 S. Rey invested $45,000 cash, a $20,000 computer system, and $8,000 of office equipment in the company. 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. 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 S. Rey withdrew $3,600 cash from the company for personal use. 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 agreed to perform future services for Alexs Engineering Co. No work has yet been performed. 18 The company received $2,208 cash from IFM Company as partial payment of the October 28 bill. 22 The company paid $250 cash for miscellaneous expenses. Hint: Debit Miscellaneous Expense for $250. 24 The company completed work and sent a bill for $3,950 to Alexs Engineering Co. 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 S. Rey withdrew $2,000 cash from the company for personal use. Required: 1. Prepare journal entries to record each of the above transactions for Business Solutions. 2. Prepare ledger accounts (in balance column format) and post the journal entries from requirement 1 to them. 3. Prepare a trial balance as of the end of November.