Jane Stam opens a web consulting business called Stam Consulting 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 Stam invested $131,000 cash along with office equipment valued at $34,500 in the company. April 2 The company prepaid $19,200 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 $9,700 in office equipment and $5,300 in office supplies. Payment is due within 10 days. April 6 The company completed services for a client and immediately received $9,100 cash. April 9 The company completed a $14,500 project for a client, who must pay within 30 days. April 13 The company paid $15,000 cash to settle the account payable created on April 3. April 19 The company paid $6,480 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 $8,700 cash as partial payment for the work completed on April 9. April 25 The company completed work for another client for $5,600 on credit. April 28 Stan withdrew $5,600 cash from the company for personal use. April 29 The company purchased $2,300 of additional office supplies on credit. April 30 The company paid $2,100 cash for this month's utility bill. Requirement General Journal General Ledger Trial Balance Income Statement Statement Financial where Enty Balance Sheet Statement