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Through 27, if possible, please. There are a lot of parts to this one question. On October 1, 2021, Santana Rey launched a computer services
Through 27, if possible, please. There are a lot of parts to this one question.
On October 1, 2021, 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. October 1 S. Rey invested $49,000 cash, a $30,000 computer system, and $9,000 of office equipment in the company in exchange for common stock. October 2 The company paid $3,280 cash for four months' rent. Hint: Debit Prepaid Rent for $3,280. October 3 The company purchased $1,370 of computer supplies on credit from Harris Office Products. October 5 The company paid $2,100 cash for one year's premium on a property and liability insurance policy. Hint: Debit Prepaid Insurance for $2,100. October 6 The company billed Easy Leasing $5,500 for services performed in installing a new Web server. October 8 The company paid $1,370 cash for the computer supplies purchased from Harris office Products on October 3 . October 10 The company hired Lyn Addie as a part-time assistant. October 12 The company billed Easy Leasing another $2,000 for services performed. October 15 The company received $5,500 cash from Easy Leasing as partial payment on its account. October 17 The company paid $770 cash to repair computer equipment that was damaged when moving it. October 20 The company paid $1,698 cash for advertisements. October 22 The company received $2,000 cash from Easy Leasing on its account. October 28 The company billed IFM Company $5,708 for services performed. October 31 The company paid $1,015 cash for Lyn Addie's wages for seven days' work. October 31 The company paid a $3,200 cash dividend. November 1 The company paid $260 cash for mileage expenses. November 2 The company received $5,633 cash from Liu Corporation for computer services performed. November 5 The company purchased computer supplies for $1,120 cash from Harris office Products. November 8 The company billed Gomez Company $6,168 for services performed. November 13 The company agreed to perform future services for Alex's Engineering Company. No work has yet been performed. November 18 The company received $3,508 cash from IFM Company as partial payment of the October 28 bill. November 22 The company paid $170 cash for miscellaneous expenses. Hint: Debit Miscellaneous Expenses for $170. November 24 The company completed work and sent a bill for $4,450 to Alex's Engineering Company. November 25 The company sent another bill to IFM Company for the past-due amount of $2,200. November 28 The company paid $312 cash for mileage expenses. November 30 The company paid $2,030 cash for Lyn Addie's wages for 14 days' work. November 30 The company paid a $1,200 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 1 to them. 3. Prepare a trlal balance as of the end of November. Requlred: 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 1 to them. 3. Prepare a trial balance as of the end of November. Complete this question by entering your answers in the tabs below. Prepare journal entries to record each of the above transactions for Business Solutions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet S. Rey invested $49,000 cash, a $30,000 computer system, and $9,000 of office equipment in the company in exchange for common stock. Note: Enter debits before credits. Journal entry worksheet The company paid $3,280 cash for four months' rent. Note: Enter debits before credits. Journal entry worksheet The company purchased $1,370 of computer supplies on credit from Harris Office Products. Note: Enter debits before credits. Journal entry worksheet The company paid $2,100 cash for one year's premium on a property and liability insurance policy. Note: Enter debits before credits. Journal entry worksheetStep by Step Solution
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