Required information Serial Problem Business Solutions LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used for the single Accounts Receivable account. This change allows the company to continue using the existing chart of accounts. In response to requests from customers, S. Roy wili begin selling computer software. The company will extend credit terms of 1/10,n/30,FOB shipping point, to all customers who purchase this merchandise. However, no cash discount is avallable on consulting fees. Additional accounts (Nos. 119, 413, 414, 415, and 502 ) are added to its general ledger to accommodate the compony's new merchandising activities. Its transactions for January through March follow: Jan. 4. The compacy paid cash to Lyn Adale for tive days' work at the rate of $165 per day, Your of the tive days relate to vages payable that were aeerued in the prior year. 5 Santana rey invested an adidtional 523,900 eash in the company in exehange for nore conad atoek: 2. The coopany purchosed $7,500 of merchandise from kansas Corp. With tersa of 1/10, n/30, ros shipping point. invoice dated January 7. 9 The company received $2,68g oanh from Cosez co. aa ful1 payment on ita aceounc. 11 the company completed a flve-day projeot for Alex's Engineering co. and billed it 55,420 , which is the cotal price of 56,910 lees the advance paysent of $1,490. The conpany debited Unearned conpater services rovenue for 51,490 . 13. The cobpany noid merehandise with a retall value of $4,400 and a coet of $3,430 to Lia corp.. In response to requests from customers, S. Rey will begin selling computer software. The company will extend credit terms of 1/10,n/30, FOB shipping point, to all customers who purchase this merchandise. However, no cash discount is available on consulting fees. Additional accounts (Nos. 119, 413,414, 415, and 502) are added to its general ledger to accommodate the company's new merchandising activities. Its transactions for January through March follow: Jan. 4 The company paid cash to Lyn Addie for five days' work at the rate of $165 per day. Four of the five days relate to vages payable that were accrued in the prior year. 5 Santana Rey invested an additional $23,900 cash in the company in exchange for more cormon stock. 7 The company purchased $7,500 of merchandise from Kansas corp. with terms of 1/10,n/30,FOB shipping point, invoice dated January 7. 9 The company received $2,688 cash from Gomez Co. as fu11 payment on its account. 11 The company completed a five-day project for Alex's sngineering co. and billed it \$5,420, which is the total price of $6,910 less the advance payment of $1,490. The company debited Unearned Computer services Revenue for $1,490. 13 The company sold merchandise with a retail value of $4,400 and a cost of $3,430 to hiu corp.. invoice dated January 13. 15 The company paid $690 cash for freight charges on the merchandise purchased on January 7. 16 The company received $4,170 cash from Delta Co. for computer nervices provided. 17 The company paid Kansas Corp. for the invoice dated January 7 , net of the discount. 20 The company gave a price reduetion (allowance) of $700 to tiu Corp., and credited Liu's accounta receivable for that amount. 22 The company received the balance due from Liu corp., net of the discount and the allowance. 24 The company returned defective merchandise to Kansas corp. and accepted a credit against future purchases (debited accounts payable). The defective merchandise invoice cost, net of the discount, was $496. 26. The company purchased $9,400 of merchandise from kansas corp. With terms of 1/10, n/30, rOB destination, invoice dated January 26. 26 The company sold merchandise with a $4,570 cost for $5,870 on credit to Kc, Ine., invoice dated January 26. 31 The company paid cauk to Lyn Addie for 10 days' work at $165 per day. Feb. 1 The company paid $2,565 cash to Hillside Mall for another three montha rent in advance. 3 The company paid Kansas Corp. for the balance due, net of the cash discount, less the $496 eredit January 26. 31 The company paid cash to Lyn hddie for 10 days: work at $165 per day. Feb. 1. The company paid $2,565 cash to Hillside Mall for another three months' rent in advance. 3 The company pald Kansas Corp. for tho balance dae, net of the cash discount, less the \$496 credit from merehandise returned on-January 24. 5 The corpany paid $440 cash to Facebook for an advertisement to appear on February 5 only, 11 The company received the balance due from Alex's Engineering Co. for feeal billed on January 11. 15 The company paid a $4,760 cash dividend. 23 Tho conpany seld merehandise with a $2,470 cost for $3,350 on credit to Delta Co., inveice dated Febxuary 23. 26 The company paid cash co Iyn Addie for elght daya' work at $165 per day+ 27 The company reimbursed Santana Rey $320 eash for business automobile mileage. The company recorded the. reimbursement as "Mileage Expense." Mar. 8 The company purchased $2,910 of conpter nupplies from Harris office Products on eredit with terms of n/30, Roa destination, involee dated Mareh 8 . 9 The company received the balance due from Delta Co. for merchandise nold on February 23. 11 The company paid $780 cash for minor repairn to the company'i computer. 16. The company received $5,300 cash from Dream, Ine., for cocpueing servicea provided. 19 The company paid the full amount due of $4,200 to larria office producta; consiuting of amounts created on Deceaber 15 (of $1,290 ) and March , 24 the company billed Eany teaning for $9,157 of eonputing servicea provided. 25 The company nold merchandise with a $2,192 coet for, $2,820 on credit to wildeat servicen, invoice dated Morch 25. 30 The ceepany sold merchandise vith a $1,07 d-cont for $2,260 on oredit to IrM conpany; invoiee dated March 30. 31 The. conpany reimbursed Santana Rey $96 eash for business automobile mileage. The company recorded the reimburseitent an "Mileage Expense. The following additional facts are available for preparing adjustments on March 31 prior to financial statement preparation: a. The March 31 arnount of computer supplies still available totals $2,005. b. Prepeid Insurance coverage of $609 expired during this 3 month period. The following additional facts are avallable for preparing adjustments on March 31 prior to financial statement preparation: a. The March 31 amount of computer supplles still avallable totals $2,005. b. Prepaid Insurance coverage of $609 expired during this 3-month period. c. Lyn Addie has not been paid for seven days of work at the rate of $165 per day. d. Prepaid rent of $2,565 expired during this 3 -month period. e. Depreciation on the computer equipment for January 1 through March 31 is $1,070. f. Depreciation on the office equipment for January 1 through March 31 is $340. g. The March 31 amount of merchandise inventory still available totals $674. Part 1 Required: 1. Prepare journal entries to record each of the January through March transactions. Journal entry worksheet The company paid cash to Lyn Addie for five days' work at the rate of $165 per day. Four of the five days relate to wages payable that were accrued in the prior year. Note: Enter debits before credits. Journal entry worksheet 567837 Santana Rey invested an additional $23,900 cash in the company in exchange for more common stock. Note: Enter debits before credits. The company purchased $7,500 of merchandise from Kansas Corp. with terms of 1/10,n/30, FOB shipping point, invoice dated January 7. Note: Enter debits before credits. The company received $2,688 cash from Gomez Co. as full payment on its account. Note: Enter debits before credits. Journal entry worksneed The company completed a five-day project for Alex's Engineering Co. and billed it $5,420, which is the total price of $6,910 less the advance payment of $1,490. The company debited Unearned Computer Services Revenue for $1,490. Note: Enter debits before credits. Jourmai entry worksitet The company sold merchandise with a retail value of $4,400 and a cost of $3,430 to Liu Corp., invoice dated January 13. Note: Enter debits before credits. JuUridi entry wOrksItel