Wizard Computer Sales and Services, Inc. Wizard Computers is a retail business dealing in sales of computers and equipment. In addition, the company provides installation and servicing of computer systems. The clientele includes wholesale and retail businesses, professionals, and private individuals. It is both a merchandising and a service business. It is owned by a small number of investors from Inman, South Carolina, with John Jones as the controlling investor. The following journals should be included in your accounting for the company: Sales Journal Cash Receipts Journal Purchases Journal Cash Payments Journal General Journal The trial balance for November is included. The accounts receivable and accounts payable ledgers for November are also included. Cash sales are recorded at the end of each week. All sales on account are subject to terms of 2/10, n/30. All purchases on account are subject to terms of 3/15, n/30.Totals of the Special Journals should be posted to the General Ledger weekly. Instructions 1. Post the balances from the trial balance to the appropriate General Ledger accounts. 2. Post the balances from the accounts receivable and accounts payable totals for Nov. to the ledgers. 3. Post all transactions for December to the appropriate journals and ledgers. 4. Prepare a trial balance for December. 5. Prepare a schedule of accounts receivable and accounts payable for the end of December. 6. Joumalize and post the adjusting entries based on the following information. 7. a. Allowance for Doubtful accounts should be 10% of total accounts receivable for the year. b. Inventory at December 31st is: Computers $123.879.41 Other computer equipment 97,359.22 Office supplies 539.42 Store supplies 2,768.39 c. Insurance expired December 31st 3,275.00 d. Depreciation is straight line Building 16,750.00 Office Equipment 3,111.00 Store Equipment e. Accrued Salaries: Sales Salaries Officers' Salaries Office Salaries 8. Prepare financial statements for year end 9. Journalize and post-closing entries 10.Prepare a post-closing trial balance 220.00 247.00 3,147.00 1,500.00