Saved H On October 1, 2020, 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. NO. Account Cash Accounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent Office Equipment Computer Equipment Accounts Payable No. Account 101 Common Stock 106 Dividends 126 Computer Services Revenue 128 Wages Expense 131 Advertising Expense 163 Mileage Expense 167 Miscellaneous Expenses 201 Repairs Expense-Computer 307 319 403 623 655 676 677 684 Oct. 1 S. Rey invested $49,000 cash, a $26,000 computer system, and $9,000 of office equipment in the company in exchange for common stock. 2. The company paid $3,280 cash for four months' rent. Minti Debit Prepaid Rent for $3,280. 3 The company purchased $1,330 of computer supplies on credit from Harris Office Products. 5 The company paid $1,740 cash for one year's premium on a property and liability insurance policy. Wint: Debit Prepaid Insurance for $1,740. 6 The company billed Easy Leasing 54,900 for services performed in installing a new web server. 8 The company paid $1,330 cash for the computer supplies purchased from Harris office Products on October 3. 10 The company hired Lyn Addie as a part-time assistant. 12 The company billed Easy Leasing another $1,600 for services performed. 15 The company received $4,900 cash from Easy Leasing as partial payment on its account. 17 The company paid $800 cash to repair computer equipment that was damaged when moving it. 20 The company paid $1,703 cash for advertisements. 22 The company received $1,500 cash from Easy Leasing on its account. 28 The company billed ITM Company $5,608 for services performed. 31 The company paid $1,015 cash for Lyn Addie's wages for seven days' work. 31 The company paid a $3,300 cash dividend. Nov. 1 The company paid $310 cash for mileage expenses. 2 The company received $5,133 cash from Liu Corporation for computer services performed. 5 The company purchased computer supplies for $1,080 cash from Harris office Products. 8 The company billed Gomez Co. 56,068 for services performed. 13 The company agreed to perform future services for Alex's Engineering co. No work has yet been performed. Prev 1 of 2 !!! Next >