ch 3 serial problem

SP 3 Serial Problem Business Solutions (Algo) LO P1, P2, P3, P4, P5 After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30,2021 , unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2021 ) follows: Business Solutions had the following transactions and events in December 2021 . December 2 Paid $985 cash to Hillside Mall for Business Solutions +share of mall advertising costs. December 3 Paid $42 cash for minor repairs to the company's computer. Decenber 4 Received $4,250 cash from Alex's Engineering Company for the receivable from November. Decenber 10 Paid cash to Lyn Addie for six days of work at the rate of $125 per day. December 14 Notified by Alex's Engineering Company that Business Solutions"s bid of $7,600 on a proposed project has been accepted. Alex's paid a $2,10 cash advance to Business Solutions. December 15 Purchased $1,880 of computer supplies on credit from Harris office Products. Decenber 16 Sent a reminder to Gomez Company to pay the fee for services recorded on November 8. December 28 Completed a project for Liu Corporation and received $6,355 cash. December 2226 Took the week off for the holidays. December 2226 Took the week off for the holidays. December 28 Received $4,800 cash from Gomez Company on its receivable. December 29 Reimbursed S. Rey for business automobile mileage (4e0 miles at se.30 per mile). December 31 S. Rey withdrew $1,30 cash from the company for personal use. 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 $610 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. 2-a. Prepare adjusting entries to reflect a through f. 2-b. Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger. 3. Prepare an adjusted trial balance as of December 31, 2021