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On October 1, 2019, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system Installations, and custom program development Rey adopts the calendar year for reporting purposes and expects to prepare the company's first set of financial statements on December 31, 2019. 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 125 wages Expense 131 Advertising Expense 163 Mileage Expense 167 Miscellaneous Expenses 201 Repairs Expense-Computer 302 319 403 623 655 676 677 654 DOR int ences oct. 1 5. Rey invested $47,00 cash, a 526,000 computer system, and $3,000 of office equipment in the company in exchange for common stock 2 The company paid $3,280 cash for four months' rent. Nint: Debit Prepaid Rent for 51,280. 3 The company purchased $1,400 of computer supplies on credit from Harris Office Products. 5 The company paid $1,76 cash for one year's prenion on property and liability insurance policy. Mint: Debit Prepaid Insurance for $1,740. The company billed Easy Leasing 55,100 for services performed in installing a new web server. 8 The company paid $1,400 Cash for the computer supplies purchased fron Harris Office Products on October 3. 10 The company hired lyn Addie as a part-time assistant. 12 The company billed Easy Leasing another $2,000 for services performed 15 The company received $5,100 cash from Easy Leasing as partial payment on its account. 17 The company paid se cashi to repair computer equipment that was damaged when moving it. 20 The company paid $1,718 cash for advertisements published in the local newspaper 22 The company received $2,000 cash from Easy Leasing on its account. 29 The company billed It Company S6,101 for services performed 31 The company paid $700 cash for Lyn Addie's wages for seven days' work. 31 The company paid a $5,200 cash dividend. NON. 1 The company reimbursed S. Rey in cash for business autonobile mileage allowance (Rey logged 1, de miles at $0.31 per mile). 2 The company received 35,133 cash from cu Corporation for computer services performed. 5 The company purchased computer supplies for 51,00 cash from Harris Office Products 8 The company billed cone: Co. $6,268 for services performed. 13 The company agreed to perfors future services for Alex's Engineering Co. No work has yet been performed 15 The company received 12,203 cash from The Company as partial payment of the October 25 bill 22 The company paid $150 cash for miscellaneous expenses. Wint: Debit Miscellaneous Expense for $100. 24 The company completed work and sent a bill for 54,150 to Alex's Engineering Co. 25 The condary sent another bill to IFM Company for the past-due anount of $3,900. 21 The company reimbursed 5. Rey in cash for business automobile mileage (1,200 miles at $0.91 per mile). 30 The company paid $1,400 cash for Lyn Addie's wages for 14 days' work. e The company paid a $1,000 cash dividend. Required: 1. Prepare Journal entries to record each of the above transactions for Business Solutions 2. Prepare ledger accounts (in balance column formar and post the journal entries from requirement to them. 3. Prepare a trial balance as of the end of November 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 3 Prepare a trial balance as of the end of November. BUSINESS SOLUTIONS Trial Balance November 30 Cash 2,460 1,740 3,280 8.000 26,000 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 expense Repairs expense Computer Totals 4,200 28,759 2.100 1.718 682 180 800 51,160 $ $ 28,759

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