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Question: Karla Tanner opens a Web consulting business called Linkworks and completes the following transactions in

its first month of operations.

April $1$ Tanner invested $$120,000$ cash along with office equipment valued at $$28,800$ in the company in exchange for

common stock.

$2$ The company prepaid $$7,200$ cash for $12$ months' rent for office space.

$3$ The company made credit purchases for $$14,400$ in office equipment and $$2,880$ 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 $$9,600$ project for a client, who must pay within $30$ days.

$13$ The company paid $$17,280$ 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.

$22$ The company received $$7,680$ cash as partial payment for the work completed on April $9.$

$25$ The company completed work for another client for $$2,640$ on credit.

$28$ The company paid $$6,200$ cash in dividends.

$29$ The company purchased $$960$ of additional office supplies on credit.

$30$ The company paid $$700$ cash for this month's utility bill.

Required $($PART A$)$:

a$.$ Record the effect of the transactions into the Fundamental Accounting Equation.

b$.$ Find the total balance of Total of Assets, Liabilites and Shareholders' Equity.

c$.$ What is the net income of the company for April? PART B: Enter the journal entries.

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