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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 Receivable account. This change allows the company to continue using the existing chart of accounts: In response to requests from customers; S. Rey 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 octivities. Its transactions for January through March follow Jan. '4 The company pold cash to tyn Addie for five days' work at the rate of 3225 per day, four of the five days relate to wages payable that were accrued in the prior year- 5. Santana Pey invested an additional $24,500 cash in the company in exchange for appe comon stock. 7. The company purchazed 56,500 of eenchandise from Kansas corp. wteh tarme of 1/10, N/30, ros ahieping Hoye, thevotee dated January 7 9. The company encetved 32,838 cash from Gonez 60 , as full paymere on its account. 11 The company completed a flverday project for Alex's tnginetring co. and braled it 55, 4le, which is the total 9. The company received $2,838 cash from Gomez Co, as full payment on its account. 11 The company completed a five-day project for Alex's Engineering co. and billed it \$55, 410, which is the total price of $6,860 less the advance payment of $1,450. The company debited Unearned Coeputer 5 ervices Revenue for 13 The company sold merchandise with a retail value of $4,200 and a cost of $3,400 to lfu corp., invoice dated January 13. 15 The company paid $720 cash for freight charges on the merchandise purchased on Januacy 7. 17. The company recefved $4,140 cash from Delta Co. for computer services provided. 20. The company paid Kansas Corp. fon the invoice dated January 7, net of the 4iscount. 20. The company 22 The company received the balance due from liu corp., net of the discount and the allowance. 24 The company returned defective merchandise to Kansas Corp. and accepted o credit agoinst future purchases (debited accounts payable). The defective merchandise involce cost, net of the discount, was 5486. 26 The company purchased $9,300 of merchandise from Kansas corp. with terns of 1/10, n/30, Fob destinatlon, invoice dated January 26. 26. The company 501d aerchandise. 1 th a $4,550 cost for $5,930 on eredit to kC, Inc., invoice dated January 26. 31 The compony paid cash to Lyn Addie for 10 days' work at $225 per day. Feb. 1 The company paid \$2,655 cash to H111side Mal1 for another three anths' rent in advance. 3. The company poid Kansos Corp. for the balance due, net of the cash discount, less the \$436 eredit fron merchandise returned on January 24 . 5. The company paid $550 cosh to Facebook for an advertisenent to appear on February 5 only. 11 The company received the balance due from Alex's Engineering co. for fees bisiled on zanoary 11. 15 The company paid a $4,670 cash dividend. 23 The company sold merchandise with a 52,530 cost for 53,350 on credit to delta con, finvolce dated february 23 . 26 The company paid cash to Lyn Addie for eight days' work ot $225 per day. 27 The company reimbursed Santana Rey 364 cash for business outooobille nllesge. The coopany recorded the reimbursement as "ifileoge Expense." Har. 8. The company purchased $2,650 of computer supplies from Harris office Products on credit with terms of n/30, Fob destination, involee dated March 8 . 9 The company received the balance doe from Delta co. for nerchandise sold pn February 23 . 11 The company poid $790 cash for minor repatis to the company"s conputer: 16 The company received 55, 310 cash from oream, the.. for conputing services prowided. 19 The corpany paid the fu1l amount due of 54,060 to Harris office Products, conalsting of asounts creoted on Decenber 15 (of 51,230) and March 8 . resmbursement as m seage txpense. Mar. 8 The company purchased $2,850 of computer supplies from Harris office Products on credit with teras of nad, Foe destination, invoice dated March 8. 9 The company received the balance due from Delta Co. for zerchandise sold on February 23. 11 The company paid $790 cash for minor repairs to the cotpany's coeputer. 16 The company recejved 55,319 cash from Dreae, Inc., for coeputing services prowided. 19 The company paid the full amount-due of 54,069 to Harris office Products, consisting of atowinticreated on 24. The company bf 11 . $1,239) and March 8 . 25. The coipany sold merchandise with a $2,192 cost for $2,930 on credit to Wildeat services, Inwolce dated March. 25. 30 The company sold merchandise with a. 31,148 cost for 32,230 on credit to trit company, fruvolce dated itarch 3e. 31 The company reimbursed Santana Rey $128 cash for business automobile milesige the coepany recarded the reimbursetient as "Hileage Expense." The followirig additional facts are available for preparing adjustments on March 31 prior to financial statement prephration 0. The March 31 amount of computer supplies still avallable totais $2.145 b. Prepald insurance coverage of $681 expired during this 3 month period c. Lyn Addie has not been paid for seven days of work at the rate of $225 per day d. Prepaid rent of $2.655 expired during this 3 -month period e. Depreciation on the computer equipment for January t through March 31 is $1. 100 . f. Defreciation on the office equipment for January 1 through March 31 is $280. 9. The March 31 amount of merchandise inventory still avaifable fotats $694. 1. Prepare journal entries to record each of the January through March transactions. Journal entry worksheet ThecompanypaidcashtoLynAddieforfivedaysworkattherateof$225perday.Fourofthefivedaysrelatetowagespayablethatwereaccruedintheprioryear. Note: Enter debits before credits. Journal entry worksheet Santana Rey invested an additional $24,500 cash in the company in exchange for more common stock. Note: Enter debits before credits. Journal entry worksheet 67837 The company purchased $6,500 of merchandise from Kansas Corp. with terms of 1/10,n/30, FOB shipping point, invoice dated January 7. Note: Enter debits before credits. Journal entry worksheet 1 The company received $2,838 cash from Gomez Co. as full payment on its Th. a fount. account. Note: Enter debits before credits. Journal entry worksheet The company completed a five-day project for Alex's Engineering Co. and billed it $5,410, which is the total price of $6,860 less the advance payment of $1,450. The company debited Unearned Computer Services Revenue for $1,450. Note: Enter debits before credits. The company sold merchandise with a retail value of $4,200 and a cost of $3,400 to Liu Corp., invoice dated January 13. Note: Enter debits before credits. 1 2 34 5 6 7 37 Record the cost of January 13 sale. Note: Enter debits before credits, Journal entry worksheet The company paid $720 cash for freight charges on the merchandise purchased on January 7. Note: Enter debits before credits. Journal entry worksheet

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