On Dec 1, 2017, Daniel Nica organized a computer service company called Smart Technology Systems. Smart Technology is organized as a sole proprietorship and will provide consulting services, computer system installations and custom program development. Smart Technology Systems has adopted the calendar year for reporting, and expects to prepare the company's first set of financial statements as of December 31, 2017. The initial chart of accounts for the accounting system includes these items: Account Account Number Account Name Number Account Name Computer Services 101 Cash 403 Revenue 106 Accounts Receivable 623 Subcontractor Expense 126 Computer Supplies 655 Advertising Expense 131 Prepaid Rent 676 Mileage Expense 163 Office Equipment 681 Rent Expense Computer 167 Equipment 684 Repairs Expense 201 Accounts Payable 301 Daniel Nica, Capital Required 1. Prepare journal entries to record each of the following October transactions. 2. Post the December entries to the ledgers. 3. Prepare a trial balance at Dec 31, 2017. 4. Prepare an income statement and a statement of changes in equity for the month ended Dec 31, 2014, 5. Prepare a balance sheet at Dec 31, 2017 Dec. 1 Daniel Nica invested $82,000 cash, a $7,000 computer equipment, and $11,000 of office equipment in the business. 2 Paid three months of rent in cash in advance; $9,000. 3 Purchased computer supplies on credit for $2,000 from Compute depot Suppl 6 Billed Maher Electric $9,300 for installing a new computer system. 7 Reimbursed Daniel Nica's business automobile expense for 1,000 kilometres at $1.80 per kilometre