Required information [The following information applies to the questions displayed below.] Santana Rey created Business Solutions on October 1, 2021. 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, 2021. 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. 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. The following additional facts are available for preparing adjustments on March 31 prior to financial statement preparation. a. The March 31 amount of computer supplies still available totals $2,165. b. Prepaid Insurance coverage of $618 expired during this three-month period. c. Lyn Addie has not been paid for seven days of work at the rate of $145 per day. d. Prepaid rent of $2,715 expired during this three-month period. e. Depreciation on the computer equipment for January 1 through March 31 is $1,160. f. Depreciation on the office equipment for January 1 through March 31 is $250. g. The March 31 amount of merchandise inventory still available totals $624. Required: 1. Prepare journal entries to record each of the January through March transactions. Journal entry worksheet Note: Enter debits before credits. Required information [The following information applies to the questions displayed below.] Santana Rey created Business Solutions on October 1, 2021. 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, 2021. 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. 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. The following additional facts are available for preparing adjustments on March 31 prior to financial statement preparation. a. The March 31 amount of computer supplies still available totals $2,165. b. Prepaid Insurance coverage of $618 expired during this three-month period. c. Lyn Addie has not been paid for seven days of work at the rate of $145 per day. d. Prepaid rent of $2,715 expired during this three-month period. e. Depreciation on the computer equipment for January 1 through March 31 is $1,160. f. Depreciation on the office equipment for January 1 through March 31 is $250. g. The March 31 amount of merchandise inventory still available totals $624. Required: 1. Prepare journal entries to record each of the January through March transactions. Journal entry worksheet Note: Enter debits before credits
