Required 1. Pre pare journal entries to record each of the following transactions for Business Solutions. Oct. 1 S. Rey invested $45,000 cash, a s20,000 computer system, and $8,000 of office equipment in The company paid $3.300 cash for four months' rent. (Hint: Debit Prepaid Rent for $3,300 3 the company in exchange for its common stock 2 The company purchased $1,420 of computer supplies on credit from Harris Office Products. 5 The company paid $2,220 cash for one year's 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 The company hired Lyn Addie as a part-time assistant for $125 per day, as needed. The company billed Easy Leasing another $1,400 for services performed. The company received $4,800 cash from Easy Leasing as partial payment on its account. The company paid $805 cash to repair computer equipment that was damaged when moving it. 0 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 The company paid $3,600 cash in dividends. 1 The company reimbursed S. Rey in cash for business automobile mileage allowance (Rey logged 1,000 miles at $0.32 per mile) The company received $4,633 cash from Liu Corporation for computer services performed The company purchased computer supplies for $1,125 cash from Harris Office Products. The company billed Gomez Co. $5,668 for services performed. The company received notification from Alex's Engineering Co. that Business Solutions's bid of $3,950 for an upcoming project was accepted. The company received $2.208 cash from IFM Company as partial payment of the October 28 bill The company donated $250 cash to the United Way in the company's name. The company completed work and sent a bill for $3,950 to Alex's Engineering Co The company sent another bill to IFM Company for the past-due amount of $3,000. The company reimbursed S. Rey in cash for business automobile mileage (1,200 miles at S0.32 per mile). 2 5 8 13 18 22 24 25 28 30 The company paid $1,750 cash for Lyn Addie's wages for 14 days' work. 30 The company paid $2,000 cash in dividends