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Karla Tanner opens a web consulting business called Linkworks and completes the following transactions in its first month of operations. Prepare joumal entries for each transaction and identify the financial statement impact of each entry. The financial statements are automatically generated based on the journal entries recorded. April 1 Tanner invested $80,000 cash along with office equipnent volued at $26,000 in the coopany in exchange for connon stock. April 2 The company prepaid $9,600 cash for 12 months" rent for affice space. The conpany's pollcy is to record prepaid expense: in balance sheet accounts. Apri1 3 The coepany made credit purchases for $8,600 in office equipaent and $3,600 in office supplies. Payment is due within days. Apri1 6 The company completed services for a client and imnediately received 54,000cash. Apri1 9 The company cospleted a $6,600 project for a client, who must pay within 30 days. Apri1 13 The company paid $11,600 cash to settle the account payable created on Apri1 3. Apri1 19 The company paid $2,400 cash for the premium on a 12-month prepaid insurance policy. The conpany's pollicy is to record prepald expenses in balance sheet accounts. April 22 The company recelved $4,400 cash as partial payaent for the work completed on April 9. April 25 The company completed work for another client for $2,899 on credit. Apri1 28 The company paid 55,500 cash in dividends. April 29 The coppany purchased 5600 of additional office supplies on credit. Apri1 30 The company paid 3435 cash for this month's utility bill

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