Jim Kennedy opens a web consulting business called Kind Matters 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 Kennedy invested $98,000 cash along with office equipment valued at $29,000 in the company. Apr. 2 The company prepaid $12,600 cash for twelve 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 $8,600 in office equipment and $4,200 in office supplies. Payment is due within 10 days. Apr. 6 The company completed services for a client and immediately received $5,800 cash. Apr. 9 The company completed a $9,000 project for a client, who must pay within 30 days. Apr. 13 The company paid $12,800 cash to settle the account payable created on April 3. Apr. 19 The company paid $3,840 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 $5,400 cash as partial payment for the work completed on April 9. Apr. 25 The company completed work for another client for $4,500 on credit. Apr. 28 Kennedy withdrew $6,100 cash from the company for personal use. Apr. 29 The company purchased $1,200 of additional office supplies on credit. Apr. 30 The company paid $1,500 cash for this months utility bill.