Journal Entries \begin{tabular}{|c|c|c|c|} \hline \multicolumn{2}{|c|}{ Owners Contributed Capital on April 1, 2021: } & \multirow{3}{*}{$30,000} & \\ \hline Dr. & Cash & & \\ \hline Cr. & Contr & & $30,000 \\ \hline \end{tabular} Paid Rent for April, May, June, and prepaid for July: Purchased a new Spin bike for the gym: Statement of owner's equity Record the list of transactions as journal entries and prepare a new set of financial statements for the current period that include the additional entries from the dient. Complete the following tasks in Excel: - Prepare journal entries to record the effect of the transactions and activities listed in the cmail. Indicate whether each entry is a regular journal entry or an adjusting journal entry. If it is an adjusting jourrial entry, what makes it so? - Revise the financial statements after the joumal entries are posted. Be sure that all friancial information is consistent across all statements. In addition to the journal elntries and financial statements, you will also create a one-page written statement to the Team Lead describing all of the changes that you made to the financial statements, as well as an assessment of the company's cash position to inform their business decisions. The company wishes to purchase a treadmill costing \$5,500. Does the company have the cash needed to purchase a treadmili