Ed Egert opens a web consulting business called Egert 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. Mar. Mar. Mar. Mar. Mar. 1 Egert invested $159,000 cash along with $22,300 in office equipment in the company in exchange for common stock. 2. The company prepaid $12,000 cash for six months' rent for an office. The company's policy is to record prepaid expenses in balance sheet accounts. 3 The company made credit purchases of office equipment for $3,300 and office supplies for $1,500. Payment is due within 10 days. 6 The company completed services for a client and immediately received $4,300 cash. 9 The company completed a $7,800 project for a client, who must pay within 30 days. Mar. 12 The company paid $4,800 cash to settle the account payable created on March 3. Mar. 19 The company paid $5,300 cash for the premium on a 12-month insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts. Mar. 22 The company received $4,700 cash as partial payment for the work completed on March 9. Mar. 25 The company completed work for another client for $4,200 on credit. Mar. 29 The company paid $5,400 cash in dividends. Mar. 30 The company purchased $900 of additional office supplies on credit. Mar. 31 The company paid $800 cash for this month's utility bill.