ND Paint Designs began operation on April 1, 2021. The company completed the following transactions....

Then create a general journal, do an Income Statement, Statement Of Owner's Equity, and Balance Sheet within the information given

Problems: Set A P2.1A (LO 1, 2) AP ND Paint Designs began operations on April 1, 2021. The company completed the following transactions in its first month: Perform transaction analysis and journalize transactions Apr. 1 2 2 2 7 8 10 25 28 29 30 The owner, Nazim Dhaliwal, invested $12,800 cash in the company. Purchased equipment for $5,000 on account. Purchased a one-year insurance policy effective April 1, and paid the annual premium of $1,500. Purchased $590 of supplies for cash. Paid cash for $600 of advertising expenses. Finished a painting project for Maya Angelina and collected $630 cash. Received a $1,270 contract from a customer, SUB Terrain Inc., to paint its new office space. SUB Terrain will pay when the project is complete. The owner, Nazim Dhaliwal, withdrew $960 cash for his use. Completed the contract with SUB Terrain Inc. from April 10 and collected the amount owing. Received $1,800 cash from Memphis Shek for a painting project that ND Paint Designs will start on May 5. Paid for the equipment purchased on account on April 2. Instructions a. For each transaction, indicate: (1) the basic type of account debited and credited (asset, liability, or owner's equity); (2) the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.); and (3) whether each account is increased (+) or decreased (-), and by what amount. Use the following format, in which the first transaction is given as an example: Account Debited Account Credited 1. 1. 3. 3. Effect Transaction Basic Type Specific Account Basic Type Specific Account Effect Apr. 1 Asset Cash +$12,800 Owner's Equity N. Dhaliwal, Capital +$12,800 b. Prepare a journal entry for each transaction