Kevin opened Webdesign Service on 1 April 2020. The following transactions occurred during the first month of operations:

1 April 2020 Kevin, the owner, invested $50 000 cash into the business.

2 April 2020 Purchased a 1-year insurance policy for $8 000. The business received an invoice and paid in cash.

3 April 2020 Acquired office equipment for $30 000, paid $5 000 in cash and signed a 1-year short term loan for 25 000.

10 April 2020 Purchased office supplies on credit for $2 000.

16 April 2020 Revenue earned for the first part of the month included $6 000 in cash and $7 000 was earned through credit customers.

22 April 2020 Kevin withdrew $500 from the business bank account for own use.

26 April 2020 Wages accrued for the month, $3 000.

30 April 2020 Paid balance owing for office supplies purchased on 10 April.

Required: a) Prepare the general journal entries to record the above transactions. Narrations are required. (18 marks) b) Calculate the cash balance at the end of the month. (2 marks)