Caitlin Fields opens a web consulting business called Fields Consulting and completes the following transactions in March. Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. March 1 Fields invested $213,00e cash along with $24,100 in office equipment in the company in exchange for common stock. March 2 The company prepaid $8,ee0 cash for six months' rent for an office. The company's policy is to record prepaid expenses in balance sheet accounts. Mareh 3 The company made credit purchases of office equipment for $5,180 and office supplies for $3,330. Payment is due within 10 days. March 6 The company completed services for a client and immediately received $6,100 cash. March 9 The company completed a $9,600 project for a client, who must pay within 30 days. March 12 The company paid $8,460 cash to settle the account payable created on March 3. March 19 The company paid $8,100 cash for the premium on a 12 -month insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts. March 22 The company received $5,800 cash as partial paysent for the work completed on March 9. March 25 The cospany completed work for another client for $6,000 on credit. March 29 The company paid $5,600 cash in dividends. March 30 The company purchased $1,100 of additional office supplies on credit. March 31 The company paid $1,00e cash for this month's utility bill. (X) Answer is not complete. Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions of Fields Consulting, entering the debits before the credits, Each transaction will automatically be posted to the General Ledger and the Trial Balance as soon as you click "Record Entry". Show less a Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journa! entries by account title. Click on any of the individual amounts to return to the underlying journal entry. Answer is not complete. The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underlying journal entries. If the total debits do not equal total credits, then there is a journal entry that is out of balance. If you have an abnormal ending balance (indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct. Show less A 8 Answer is not complete. Using the dropdown buttons, select the financial statement elements and account tities to be included on the income statement. The account balances will automatically populate. Using the dropdown buttons, select the item that accurately describes the values that either increase or dec retained earnings. FIELDS CONSULTING Balance Sheet March 31 Assets: St Retained Earnings Impact on Equity >