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GLO203 - (No Analysis Tab) - Based on Exercise 2-12 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. Assume Mitchell Services began the year with the following balances: Cash, $65,000: Accounts receivable, $12,000, and Common stock, $77,000. ces Jan. 1 Rick Mitchell invested $22,000 cash in the company in exchange for common stock. Jan. 2 The company provided services to a client and immediately received $6,900 cash. Jan. 3 The company received $12,000 cash from a client in payment for services to be provided next year. Jan. 4 The company received $7,500 cash from a client in partial payment of accounts receivable. Jan. 5 The company borrowed $15,000 cash from the bank by signing a note payable. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet General Journal Tab - For each transaction, prepare the required journal entry on the General Journal tab. List debits before credits General Ledger Tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Trial Balance Tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits Income Statement Tab - The revenue and expense balances from the trial balance appear on the income statement, along with their balance as of the date selected. Review the income statement and indicate how the income statement is linked to the other financial statements Statement of Retained Earnings Tabeoinnino retained nincs minus net income for the nerd in