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After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30,2019 , unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019 ) follows. Business Solutions hod the following transactions and events in December 2019. 2 Paid $985 cash to Hillside Mall for Business Solutions' share of mall advertising costs. 3 Paid $420 cash for minor repairs to the company's computer. 4. Received $4,350 cash froe Alex's Engineering Co. for the receivable fron November. 10 Paid cash to tyn Addie for six days of work at the rate of $125 per day. 14 Notified by Alex's Engineering Co. that Business Solutions' bid of $7,500 on a proposed project has been accepted. Alex' 3 paid a $2,100 cash advance to Business solutions. 15 Purchased $1,400 of cmputer supplies on eredit from Harris office Products. 16 Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. 20 completed a project for tiu corporation and received $6,075 cash. 22 - Took the week off for the holldays. 26 28 Received $3,800 cash from Gomez co. on its receivable. 29 Reimbursed S. Rey for business autonobile mileage (400 miles at 50.22 per mille). 31 The conpany paid $1,300 cash in dividends. 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 $620 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 odjusting entries to reflect a through f1 2-b. Post the journal entries to record each of the December transactions from Requirement 1 and adjusting entries from Requirement 2A. After completing Requitement 7. post the closing entries to the general ledger accounts. 3. Prepare an adjusted trial balance as of December 31, 2019. 4. Prepare an income stotement for the three months ended December 31, 2019. 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 from Requirement 1 and adjusting entries from Requirement 2A. After completing Requirement 7. post the closing entries to the general ledger accounts. 3. Prepare an adjusted trial balance as of December 31, 2019 . 4. Prepare an income statement for the three months ended December 31, 2019. 5. Prepare a statement of retained earnings for the three months ended December 31,2019 . 6. Prepare a balance sheet as of December 31, 2019. 7. Record the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger in Requirement 2B, 8. Prepare a post-closing trial balance as of December 31, 2019

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