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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. Jenuary 1 C. Coliins, owner, dnvested $172,750 cash in the company in exehange for common stoek. January 2 The company purchated supplies for $3,650 cash. January 3 The company purchaned $10,050 of equipment on eredit. Jandary 4 The company received $20,300 cash for services provided to a customer. January 5 The company paid $10,050 eash to settle the payable for the equipment purchased on January 3 . January 6 The company billed a customer 55,100 for servicen provided. January 7 The company paid $3,625 cash for the monthly rent. January 8 The company collected $2,925 cash as partial payment for the account receivable created on January 6 . January 9 The company paid $13,700 cash in dividends to the owner (sole ahareholder). Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions of the Collins 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". Journal entry worksheet 456789 January 1 - C. Collins, owner, invested $172,750 cash in the company in exchange for common stock. Note: Enter debits before credits. Journal entry worksheet 4567 January 2 - The company purchased supplies for $3,650 cash. Note: Enter debits before credits. Journal entry worksheet 7 8 January 3 - The company purchased $10,050 of equipment on credit. Note: Enter debits before credits. Journal entry worksheet January 4 - The company received $20,300 cash for services provided to a customer. Note: Enter debits before credits. Journal entry worksheet January 5 - The company paid $10,050 cash to settle the payable for the equipment purchased on January 3. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet 12345 January 7 - The company paid $3,625 cash for the monthly rent. Note: Enter debits before credits. Journal entry worksheet