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 Recelvable account. This change allows the company to continue using the existing chart of accounts. In response to requests from customers, S. Ry 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 avallable 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 3an. 4 The company paid cash to Lyn Addie for five days' work at the rate of $155 per day. Four of the five days relate to wages payable that were accrued in the prior year. 5 Santana Rey Invested an additional $24,700 cash in the company in exchange for more conmon stock. 7 The company purchased $7,000 of merchandise from Kansas Corp. with terms of 1/10,n/30, f08 shipping point, invoice dated January 7. 9 The coepany received $2,878 cash from Gomez Co. as full payment on its account. 11 The company coepleted a five-day project for Alex's Engineering Co. and billed it $5,480, which is the total price of $6,810 less the advance payment of $1,330. The conpany debited Unearned computer Services Revenue for 13 The company sold merchandise with a retail value of $4,400 and a cost of $3,540 to tiu corp., imvoice dated 51,330. 15 The company paid $760 cash for freight charges on the merchandise purchased on January 7. January 13. 16 The company received 54,070 cash from Delta Co. for conputer services provided. 17 The company paid Kansas Corp. for the invoice dated January. 7 , net of the discount. 20 The company gave a price reduction (allowance) of $400 to Liu corp., and credited Liu's accounts receivable for 22. The company received the balance due from liu corp., net of the discount and the allowance. that anount. 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 $476. 26 The company purchased $9,500 of merchandise fron Kansas Corp. with teres of 1/10, n/30, F00 destination, 26 The company sold merchandise with a $4,510 cost for 55,870 on credit to KC, Inc., invoice dated 3 anuary 26. Invoice dated January 26. 31 The comoany paid cash to Lvn Addie for 10 days' work at 5155 per day. 31 The coppany paId cash to Lyn Addie for 10 days' work at $155 per day. Feb, 1 The coopany paid \$2,685 cash to Hillside Ma11 for another three months' rent in advance. 3. The company paid Kansas Corp. for the balance due, net of the cash discount, less the $476 credit from merchandise returned on January 24 . 5 The coepany paid s41e cash to Facebook for an advertisenent to appear on February 5 only. 11. The company recefved the balance due from Alex's Engineering Co. for fees billed on January 11. 15 The company paid a 84,790 cash dividend. 23 The coepany sold merchandise with a $2,550 cost for $3,400 on credit to Delta Co., involce dated February 23. 26 The corpany paid cash to Lyn Addie for eight days' work at $155 per day. 27 The company reinbursed Santana Fey $128 cash for business autonobile mileage. The company recorded the reinbursenent as "Mileage Expense. Mar. \& The company purchased $2,770 of conputer supplies from Harris office Products on credit with terms of n/30, foe destination, invoice dated March 8 . 9 The compary recelved the balance due-froe Delta Co, for merchandise sold on February 23. 11. The company paid 5800 cash for minor repairs to the company's computer. 16. The company received 55,270 cash from Dreas, Inc., for coeputing services provided. 19 The company paid the fuil anount due of $3,380 to Harris office Products, consisting of amounts created on Deceaber 15 (of 51,110) and March 8 . 24 the coepany billed Easy leasing for 59,157 of computing services provided. 25 The company sold serchandise with a $2,072 cost for $2,990 on credit to Wildcat Services, invoice dated March 25. 30 The company sold merchandise with a $1,698 cost for $2,350 on credit to IFM Company, invoice dated March 30. 31 the comary reiebursed Santana Rey 364 cash for business automobile milleage. The conpany recorded the reimbursement as "Mileage Expense." 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 $2,005 b. Prepoid insurance coverage of $636 expired during this 3 month period. c. Lyn Addie has not been paid for seven days of work ot the rate of $155 per day d. Prepaid rent of $2.685 expired during this 3 month period e. Depreciation on the computer equipment for January 1 through March 31 is $1,210 f. Depreciation on the office equipment for January 1 through March 31 is $270 g. The March 31 amount of merchondise inventory still available totals $664 2. Post the journal entries in part 1 to the accounts in the company's general ledger. Note Begin with the ledger's post-closing adjusted balances as of December 31, 2019