Ed Egert opens a web consulting business called Gourmet Menus and completes the following transactions in its first month of operations. Prepare journal 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. Apr. 1 Egert invested $89,000 cash along with office equipment valued at $27,500 in the company in exchange for common stock. Apr. 2 The company prepaid $10,800 cash for 12 months' rent for office space. The company's policy is to record prepaid expenses in balance sheet accounts. Apr. 3 The company made credit purchases for $8,300 in office equipment and $3,900 in office supplies. Payment is due within 10 days. Apr. 6 The company completed services for a client and immediately received $4,900 cash. Apr. 9 The company completed a $7,500 project for a client, who must pay within 30 days. Apr. 13 The company paid $12,200 cash to settle the account payable created on April 3. Apr. 19 The company paid $3,120 cash for the premium on a 12-month insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts. Apr. 22 The company received $4,500 cash as partial payment for the work completed on April 9. Apr. 25 The company completed work for another client for $4,200 on credit. Apr. 28 The company paid $5,800 cash in dividends. Apr. 29 The company purchased $900 of additional office supplies on credit. Apr. 30 The company paid $900 cash for this month's utility bill. Requirement General Journal General Ledger Trial Balance FS Impact General Journal Tab - For each transaction, prepare the required journal entry on the General Journal tab. List debits before credits. General Ledger Tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Trial Balance Tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, Financial Statement Impact Tab It is important to be able to identify the impact each transaction has on the financial statements. For each of the transactions, indicate the cumulative amount of net income, total assets, total liabilities and total equity that would appear on the financial statements immediately after each transaction is recorded. < Requirement General Journal >