Question

Serial Problem Business Solutions LO P1, P2, P3, P4, P5, P6 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. Credit Debit $ 38,964 13,618 2,645 2,220 3,060 8, 200 $ 23,600 63,000 No. Account Title 101 Cash 106 Accounts receivable 126 Computer supplies 128 Prepaid insurance 131 Prepaid rent 163 Office equipment 164 Accumulated depreciation office equipment 167 Computer equipment 168 Accumulated depreciation-Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 307 Common stock 318 Retained earnings 319 Dividends 403 Computer services revenue 612 Depreciation expense-office equipment 613 Depreciation expense-Computer equipment 623 Wages expense 637 Insurance expense 640 Rent expense 652 Computer supplies expense 655 Advertising expense 676 Mileage expense 677 Miscellaneous expenses 684 Repairs expense-Computer Totals 6, 200 41, 244 2,550 1,628 664 170 725 $104,244 $104,244

Answer 1

Journal Entries Post Account Title and Explaination Date Debit Сredit Ref. (S) (S) Advertising Expenses $ Dec.2 940.00 Cash 940.00 (To record advertising expenses paid) Repairs Expense - Computer Dec.3 410.00 Cash 410.00 To record Computer Repairs Expenses paid) Dec.4 Cash $ 3,950.00 Accounts Receivable $ 3,950.00 (To record collection of receivables) Dec.10 Wages Expense (6x$110) 660.00 Cash $ 660.00 (To record Wages paid) A

Dec.14 Cash 2,400.00 Unearned Computer Service Revenue $ 2,400.00 (To record advance received) Computer Supplies Dec.15 1,200.00 Accounts Payable $ 1,200.00 (To record Computer Supplies purchased on account) Dec.16 No Journal entry required for sending reminder to debtors Cash 6,225.00 Dec.20 Computer Service Revenue (To record Service provided for Cash) 6,225.00

Dec.20 Cash 6,225.00 Computer Service Revenue (To record Service provided for Cash) $ 6,225.00 No Journal Entry required for taking week off for holidays Dec.22 Cash $ 3,200.00 Dec.28 Accounts Receivable 3,200.00 (To record Collection of receivables) Dec.29 Mileage Expense (400x$0.27) Cash 108.00 $ 108.00 (To record mileage expenses paid) Dividends $ Dec.31 1,500.00 Cash $ 1,500.00 (To record Dividends paid)