Problem 2-1A Preparing and posting journal entries; preparing a trial balance LO Karla Tanner opens a Web consulting business called Linkworks and completes the following transactions in its first month of operations April 1 Tanner invests $110,000 cash along with office equipment valued at $26,400 in the company 2 The company prepaid S7,200 cash for twelve months' rent for office space. (Hint. Debit Prepaid Rent for $7,200.) 3 The company made credit purchases for $13,200 in office equipment and $2,640 in office supplies. Payment is due within 10 days 6 The company completed services for a client and immediately received $2,000 cash 9 The company completed a $8,800 project for a client, who must pay within 30 days 13 The company paid $15,840 cash to settle the account payable created on April 3 19 The company paid $6,000 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $6,000.) 22 The company received $7,040 cash as partial payment for the work completed on April 9 25 The company completed work for another client for $2,640 on credit. 28 Tanner withdrew $6,200 cash from the company for personal use 29 The company purchased $880 of additional office supplies on credit. 30 The company paid $700 cash for this month's utility bill