Problem 2-1A (Static) Preparing and posting journal entries; preparing a trial balance LO A1, P1 Karla Tanner opened a Web consulting business called Linkworks and completed the following transactions in its first month of operations. April 1 Tanner invested $80,000 cash along with office equipnent valued at $26,000 in the conpany in exchange for connon stock. April 2 The company prepaid $9,800 cash for 12 months' rent for office space. Hint: Debit Prepaid Rent for $9,000. April 3 The conpany made credit purchases for $8,060 in office equipment and $3,680 in office supplies. Paynent is due within 10 days. April 6 The company conpleted services for a client and innediately received $4,006 cash, April 9 The company completed a $6,000 project for a client, who must pay within 30 days. April 13 The company paid $11,600 cash to settle the account payable created on April 3. April 19 The conpany paid $2,400 cash for the premium on a 12-nonth prepaid insurance policy. Hint: Debit Prepaid Insurance tor $2,400. April 22 The company received $4,400 cash as partial payment for the work completed on April 9. April 25 The company completed work for another client for $2,890 on credit. April 28 The company paid a $5,500 cash dividend. April 29 The conpany purchased $600 of additional office supplies on credit. April 30 The conpany paid $435 cash for this month's utility bitl. Required: 1. Prepore general journal entries to record these transactions using the following titles: Cash (101): Accounts Recelvable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); Common Stock (307): Dividends (319); Services Revenue (403); and Utilities Expense (690). 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of April 30. Complete this question by entering your answers in the tabs below. Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); Common Stock (307); Dividends (319); Services Revenue (403); and Utilities Expense (690). 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of April 30. Complete this question by entering your answers in the tabs below. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106);; Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); Common Stock (307); Dividends (319); Services Revenue (403); and Utilities Expense (690). Tanner invested $80,000 cash along with office equipment valued at $26,000 in the company in exchange for common stock. 2 The company prepaid $9,000 cash for 12 months' rent for office space. 3 The company made credit purchases for $8,000 in office equipment and $3,600 in office supplies. Payment is due within 10 days. 4 The company completed services for a client and immediately received $4,000 cash. 5 The company completed a $6,000 project for a client, Note : = journal entry has been entered 6 The company paid $11,600 cash to settle the account payable created on April 3. 7 The company paid $2,400 cash for the premium on a 12 month prepaid insurance policy. 8 The company received $4,400 cash as partial payment for the work completed on April 9. 9 The company completed work for another client for $2,890 on credit. 10 The company paid a $5,500 cash dividend. 11 The company purchased $600 of additional office supplies on credit. Note : = journal entry has been entered Journal entry worksheet \begin{tabular}{lllll} \hline 5 & 7 & 8 & 12 \\ \hline \end{tabular} Tanner invested $80,000 cash along with office equipment valued at $26,000 in the company in exchange for common stock. Note: Enter debits before credits. Post the journal entries from part 1 to the ledger accounts. Aequired 1 Required 3> Complete this question by entering your answers in the tabs below. Prepare a trial balance as of April 30