GLO204 (Algo) - (No Analysis Tab) - Based on Problem 2-1A LO A1, P1 Ivan Kuhl opens a web consulting business called Photo Sense 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 April 1 Kuhl invested $1e1,eee cash along with office equipent valued at $29,5e in the company. April 2 The company prepaid $13,200 cash for 12 months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. April 3 The company made credit purchases for $8,708 in office equipment and 54,300 in office supplies. Paynent is due within 10 days April 6 The company completed services for a client and immediately received $6,100 cash. April 9 The company completed a $9,500 project for a client, who must pay within 30 days. April 13 The company paid $13,000 cash to settle the account payable created on April 3. April 19 The company paid $4, ese cash for the premium on a 12-month insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts. April 22 The company received $5,700 cash as partial payment for the work completed on April 9 April 25 The company completed work for another client for $4,600 on credit. April 28 Kuhl withdrew $6,200 cash from the company for personal use. April 29 The company purchased $1,300 of additional office supplies on credit. April 30 The company paid $1,700 cash for this month's utility bill. General General Statement Income Requirement Trial Balance Balance Sheet Journal Ledger Statement Owners Equity Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions of the Photo Sense Company, entering the debits before the credits. Each transaction will automatically be posted to the General Ledger and the Trial Balance as soon as you click "Record Entry". View transaction list