On October 1, 2013, Adria Lopez launched a computer services company called Success Systems, which provides consulting services, computer system installations, and custom program development. Adria adopts the calendar year for reporting purposes and expects to prepare the company’s first set of financial statements on December 31, 2013. The company’s initial chart of accounts follows.

On October 1, 2013, Adria Lopez launched a computer services company called Success Systems, which provides consulting services, computer system installations, and custom program development. Adria adopts the calendar year for reporting purposes and expects to prepare the company’s first set of financial statements on December 31, 2013. The company’s initial chart of accounts follows.

 

Account	No.		Account	No.
Cash	101		A. Lopez, Capital	301
Accounts Receivable	106		A. Lopez, Withdrawals	302
Computer Supplies	126		Computer Services Revenue	403
Prepaid Insurance	128		Wages Expense	623
Prepaid Rent	131		Advertising Expense	655
Office Equipment	163		Mileage Expense	676
Computer Equipment	167		Miscellaneous Expenses	677
Accounts Payable	201		Repairs Expense — Computer	684

 

Oct.	1	Adria Lopez invested $50,000 cash, a $26,000 computer system, and $8,000 of office equipment in the company.
	2	The company paid $3,260 cash for four months' rent. (Hint: Debit Prepaid Rent for $3,260.)
	3	The company purchased $1,360 of computer supplies on credit from Harris Office Products.
	5	The company paid $1,680 cash for one year's premium on a property and liability insurance policy. (Hint: Debit Prepaid Insurance for $1,680.)
	6	The company billed Easy Leasing $5,100 for services performed in installing a new Web server.
	8	The company paid $1,360 cash for the computer supplies purchased from Harris Office Products on October 3.
	10	The company hired Lyn Addie as a part-time assistant for $105 per day, as needed.
	12	The company billed Easy Leasing another $2,000 for services performed.
	15	The company received $5,100 cash from Easy Leasing as partial payment on its account.
	17	The company paid $760 cash to repair computer equipment that was damaged when moving it.
	20	The company paid $1,698 cash for advertisements published in the local newspaper.
	22	The company received $2,000 cash from Easy Leasing on its account.
	28	The company billed IFM Company $5,308 for services performed.
	31	The company paid $735 cash for Lyn Addie’s wages for seven days' work.
	31	Adria Lopez withdrew $3,200 cash from the company for personal use.
Nov.	1	The company reimbursed Adria Lopez in cash for business automobile mileage allowance (Lopez logged 1,000 miles at $0.31 per mile).
	2	The company received $4,733 cash from Liu Corporation for computer services performed.
	5	The company purchased computer supplies for $1,035 cash from Harris Office Products.
	8	The company billed Gomez Co. $6,568 for services performed.
	13	The company received notification from Alex's Engineering Co. that Business Solutions' bid of $4,350 for an upcoming project is accepted.
	18	The company received $2,408 cash from IFM Company as partial payment of the October 28 bill.
	22	The company donated $240 cash to the United Way in the company's name.
	24	The company completed work for Alex's Engineering Co. and sent it a bill for $4,350.
	25	The company sent another bill to IFM Company for the past-due amount of $2,900.
	28	The company reimbursed Adria Lopez in cash for business automobile mileage (1,200 miles at $0.31 per mile).
	30	The company paid $1,470 cash for Lyn Addie's wages for 14 days' work.
	30	Adria Lopez withdrew $1,600 cash from the company for personal use.

  

Required:
1.	Prepare journal entries to record each of the above transactions for Success Systems. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.)