REQUIRED: 1. Prepare journal entries to record each of the following transactions for Aster Systems. Post the entries to the accounts in the GL Column Accounts or T accounts. Dec. 3 Paid $3,800 to the Kingsway Garden Mall for the company's share of mall advertising costs for December. 3 Paid $1,040 to repair the company's computer. 4 Received the $5,950 balance owing from Kinsetta Groceries. 10 Paid Donald Gee for eight days' work at the rate of $345 per day. 14 Notified by Kinsetta Groceries that Aster's bid of $6,500 on a proposed project was accepted. Kinsetta paid an advance of $3,000. 17 Purchased $740 of computer supplies on credit from Triple-One Supplies. 18 Sent a reminder to Dinwoody Entertainment to pay the $4,230 originally recorded on November 8 . 20 Completed a project for Langara Lodge and received $1,100 cash. 24-28 Took the week off for the holidays. 31 Received \$1,800 as partial payment from Dinwoody Entertainment. 31 Reimbursed Aster Turane's business automobile expenses of 1,800 kilometres at $1.60 per kilometre. 31 Received 50,000 cash after signing long term Note Payable (5,000 due next yr) 31 Aster Turane withdrew $800 cash from the business. 2. Prepare adjusting entries to record the following additional information collected on December 31, 2017. Post the entries to the GL Column Accounts or T accounts. Dec. 31 a. The December 31 inventory of computer supplies was $480. b. Three months have passed since the $8,640 annual insurance premium was paid. c. As of the end of the year, Donald Gee has not been paid for four days of work at the rate of $345 per day. d. The computer equipment is expected to have a five-year life with no residual value. e. The office equipment is expected to have a ten-year life with no residual value. f. Prepaid rent for three of the six months has expired. 8 3. Prepare an adjusted trial balance as of December 31, 2017. 9 4. Prepare a multi step income statement and statement of changes in equity for the year ended December 31, 2017. 1 ADDITIONAL INFORMATION 2 Repairs and Maintenance, Charitable Donations, Office equipment depreciation 3 and insurance expense are administrative expenses 4$1,500 of computer supplies expense is selling expense 85 Advertising and mileage expense are selling expenses 86 Rent is 50% Selling, Wages is 70% Selling 87 Depreciation expense Computers is 50% Selling 88 5. Prepare a classified balance sheet as of December 31, 2017. 89 6. Prepare closing entries for December 31, 2017 90 7. Prepare post closing Trial Balance December 31, 2017 91