SP 3 After the success of the company's first two months, Santana Rey continues to operate Business Solutions (Transactions for the first two months are described in the Chapter 2 serial problem.) The November 30, 2017, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2017) follows. No. Account Title Credit Debit 101 Cash S38,264 12,618 106 Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation Computer 168 126 2,545 128 2,220 131 3,300 163 8,000 S 164 0 167 20,000 equipment Accounts payable Wages payable Unearned computer services revenue 0 201 0 210 0 236 0 307 Common stock 73,000 Retained earnings 318 0 Dividends 5,600 319 Computer services revenue Depreciation expense Office equipment Depreciation expense Computer equipment 403 25,659 612 0 613 0 623 Wages expense 2,625 637 Insurance expense 0 640 Rent expense 0 652 Computer supplies expense 655 Advertising expense 676 Mileage expense 677 Miscellaneous expenses 684 Repairs expense Computer 0 1,728 704 250 805 $98,659 $98,659 Totals December Transactions - Requirejournalizing and posting Business Solutions had the following transactions and events in December 2017 Dec Paid S1,025 cash to Hilbide Mall for Basiness Solutions's shae of mal advertising costs Paid 5500 cah for minor repairs to the company's computer Received $3,950 cash from Ales's Engineering Co. for the receivable om 4 November Paid cah to Lym Addic for sis days of work at the ate of S125 per day Nonfied by Alex 's Enginoerng Co dh Hss Soins's bid on a proposed to Basiness Selutions Purchased S1,100 of compuner pplies on credi from Hamis Office 000 ject has bocn accepted Alex's paid a S1.500 cah a 14 IS Prodect Sent a reminder to Gomer Co to pay the fee services reconded 16 November 8 20 Completed a project for Liu Comporation and received S5.525 cash 23 26 Took the week off the holidays 28 Received 53,000 cash from Gomer C on s secable Reimbared S. Rey Sor business aomobile mileage (600 miles a5032 pen 29mlc 31 The company pad S1500 cah in dividends Adjusting Entries The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months: a. The December 31 inventory count of computer supplies shows $580 still available. b. Three months have expired since the 12-month insurance premium was paid in advance. c. As of December 31, Lyn Addie has not been paid for four days of work at $125 per day. d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value. f. Three of the four months' prepaid rent have expired. Required 1. Prepare journal entries to record each of the December transactions and events for Business Solutions. Post those entries to the accounts in the ledger. 2. Prepare the Worksheet Trial Balance (from 12/31 ledger balances) 3. Prepare adjusting entries on the Worksheet (Adjustment Section) lisated l-1L Deanan