GL$0206($Algo$)-$ Based on Problem $2-3$A LO A$1,$ P$1$

John Fox opens a web consulting business called Fox 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 $1$ Fox invested $$198,000$ cash along with $$23,600$ in office equipment in the company. balance sheet accounts. days.

March $6$ The company completed services for a client and immediately received $$5,600$ cash.

March $9$ The company completed a $$9,100$ project on credit for a client, who must pay within $30$ days.

March $12$ The company paid $$7,400$ cash to settle the account payable created on March $3.$ expenses in balance sheet accounts.

March $22$ The company received $$5,500$ cash as partial payment for the work completed on March $9.$

March $25$ The company completed work for another client for $$5,500$ on credit.

March $29$ Fox withdrew $$5,100$ cash from the company for personal use.

March $30$ The company purchased $$600$ of additional office supplies on credit.

March $31$ The company paid $$500$ cash for this month's utility bill.

$\backslash$table$[[$Requirement$,\backslash$table$[[$General$],[$Journal$]],\backslash$table$[[$General$],[$Ledger$]],$Trial Balance,$\backslash$table$[[$Income$],[$Statement$]],\backslash$table$[[$Statement$],[$Owners Equity$]],$Balance Sheet,$\backslash$table$[[$Impact on$],[$Equity$]]]]$

General Journal Tab $-$ For each transaction, prepare the required journal entry on the General Journal tab. List debits before credits. Each journal entry is automatically posted to the General Ledger.

General Ledger Tab $-$ To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Abnormal balances appear in parentheses. Click on any amount to sep the underlvinn inurnal entrv