Serial Problem Business Solutions (Algo) LO A1, P1 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 307 319 403 Account Cass Accounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent Office Equipment Computer Equiment Accounts Payable No Account 101 Common Stock 105 Dividends 126 Computer Services Revenue 120 Wages Expense 131 Advertising Expense 163 Mileage Expense 167 Miscellaneous Expenses 201 Repairs Expense-Computer 623 655 676 677 Oct 15. Rey invested $46,000 cash, = $23,000 computer system, and $9,000 of office equipment in the company in exchange for common stock 2 The company paid $3,280 cash for your months' rent. Wint: Debit Prepaid Rent for 53,280 The company purchased $1,378 of computer supplies on credit from Harris Office Products $ The company paid $1,300 cash for one year's premium on a property and liability insurance policy. Mint Debit Prepaid Insurance for $1,800 The company billed cany leasing $5,200 for services performed in installing a new web server The company paid $1,370 cash for the computer supplies purchased from Harris Office Products on October ) 10 The company hired Lyn Addie as a part-time assistant 12 The company billed Easy Leasing another $2,300 for services performed 15 The company received $5,200 cash from any leasing as partial paynent on its account. 17 The company paid $775 cash to repair computer equipment that was dated when moving it. 20 The company paid $1,688 cash for advertisements 22 The company received $2,300 cash from Easy Leasing on its account 28 The company billed IFM Company 55,300 for services perforned 31 The company poid 5910 cash for Lyn Addie's wages for seven days' work 1 The company paid $2,700 cash dividend Nov. 1 The company paid $260 cash for mileage expenses 2 The company received $4,933 cash from Liu Corporation for computer services performed 5 The company purchased computer supplies for $1,065 cash fron Harris Office Products The company billed Gomez Co. 56,068 for services performed 13 The company agreed to perfor future services for Alex's Engineering Co. No work has yet been performed 18 The company received $2,308 cash from IFM Company as partial payment of the October 28 bill 22 The company paid $110 cash for miscellaneous expenses. Wint: Debit Miscellaneous Expenses for $130. 24 The company completed work and sent a bill for $4,65a to Alex's Engineering Co. 25 The company sent another bill to IFM Company for the past due amount of 53,000 28 The company paid $312 cash for mileage expenses 30 The company paid $1,820 cash for Lyn Addie's wages for 14 days work 30 The company paid a $1,600 cash dividend Required: 1. Prepare journal entries to record each of the above transactions for Business Solutions 2. Prepare ledger accounts in balance column format) and post the journal entries from requirement to them 3. Prepare a trial balance as of the end of November Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Prepare ledger accounts (in balance column format) and post the journal entries from requirement to them 109: Cash 106: Accounts Receivable Date Debit Credit Balance Date Debit Balance Credit 126: Computer Supplies 128. Prepaid Insurance Date Debit Credit Balance Date Debit Credit Balance 131: Prepaid Rent 163. Omice Equipment Date Debit Credit Balance Date Debit Balance Cream 167: Computer Equipment 201 Accounts Payable Date Debt Credit Balance Date Debit Credit Balance Pre 11 be here to search 3 16 120. Prepaid insurance Balance Debit Credit 126 Computer Supplies Debit Credit Balance Date 163: Once Equipment 131: Prepaid Rent Credit Balance Data Debat Credit Date Debit 167: Computer Equipment 201 Accounts Payable Debit Credit Balance Balance Credit Date Debit 319: Dividends 307: Common Stock Credit Balance Debit Date Balance Date Debit Credit 403: Computer Services Revenue 23. Wages Expense Debit Credit Balance Date Credit Balance Date Debit 5:56 Advertising Expense 676: Mileage Expense Debit Credit Balance Date Balance Credit Date Debit 684 Repairs Expense-Computer Credit Balance 677: Miscellaneous Expenses Debit Debat Date Credit Balance Date Required 1 Required 3 > Prepare a trial balance as of the end of November BUSINESS SOLUTIONS Trial Balance November 30 Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Computer equipment Accounts payable Common Stock Dividends Computer services revenue Wages expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer Totals $ 0