On October 1, 2021, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. The companys initial chart of accounts follows.

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.

On October 1, 2021, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. The company's initial chart of accounts follows. October 1 S. Rey invested $50,000 cash, a $30,000 computer system, and $8,000 of office equipment in the company in exchange for common stock. October 2 The company paid $3,280 cash for four months' rent. Hint: Debit Prepaid Rent for $3,280. October 3 The company purchased $1,390 of computer supplies on credit from Harris Office Products. October 5 The company paid $2,100 cash for one year's premium on a property and liability insurance policy. Hint: Debit Prepaid Insurance for $2,100. October 6 The company billed Easy Leasing $4,900 for services performed in installing a new Web server. October 8 The company paid $1,390 cash for the computer supplies purchased from Harris Office Products on October 3. October 10 The company hired Lyn Addie as a part-time assistant. October 12 The company billed Easy Leasing another $2,300 for services performed. October 15 The company received $4,900 cash from Easy Leasing as partial payment on its account. October 17 The company paid $765 cash to repair computer equipment that was damaged when moving it. October 20 The company paid $1,723 cash for advertisements. October 22 The company received $2,300 cash from Easy Leasing on its account. October 28 The company billed IFM Company $5,708 for services performed. October 31 The company paid $910 cash for Lyn Addie's wages for seven days' work. October 31 The company paid a $3,200 cash dividend. November 1 The company paid $270 cash for mileage expenses. November 2 The company received $4,933 cash from Liu Corporation for computer services performed. November 5 The company purchased computer supplies for $1,025 cash from Harris office Products. November 8 The company billed Gomez Company $6,468 for services performed. November 13 The company agreed to perform future services for Alex's Engineering Company. No work has yet been performed. November 18 The company received $3,308 cash from IFM Company as partial payment of the October 28 bill. November 22 The company paid $210 cash for miscellaneous expenses. Hint: Debit Miscellaneous Expenses for $210. November 24 The company completed work and sent a bili for $4,450 to Alex's Engineering Company. November 25 The company sent another bill to IFM Company for the past-due amount of $2,400. November 28 The company paid $324 cash for mileage expenses. November 30 The company paid $1,820 cash for Lyn Addie's wages for 14 days' work. November 30 The company paid a $1,100 cash dividend. 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. Note: Enter debits before credits. Prepare a trial balance as of the end of November