James Drake opens a web consulting business called Kitchen Solutions 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 Drake invested $152,000 cash along with office equipment valued at $38,000 in the company. Apr. 2 The company prepaid $23,400 cash for 12 months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. Apr. 3 The company made credit purchases for $10,400 in office equipment and $6,000 in office supplies. Payment is due within 10 days. Apr. 6 The company completed services for a client and inediately received $11,200 cash. Apr. 9 The company completed a $18,000 project for a client, who must pay within 30 days. Apr. 13 The company paid $16,400 cash to settle the account payable created on April 3. Apr. 19 The company paid $8,160 cash for the premium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts. Apr. 22 The company received $10,880 cash as partial payment for the work completed on April 9. Apr. 25 The company completed work for another client for $6,300 on credit. Apr. 28 Drake withdrew $5,500 cash from the company for personal use. Apr. 29 The company purchased $3,000 of additional office supplies on credit. Apr. 30 The company paid $3,500 cash for this month's utility bill. Requirement General General Income St Owners Journal Ledger Trial Balance Statement Equity Balance Sheet Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions of the Kitchen Solutions 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 View Journal entry worksheet No Date Account Title Debit Credit