Part I. Prepare Journal Entry for the following transactions: Hsieh Consulting Company completed the following transactions in 2013 1. At the beginning of the year, Rita and Tien invested $15,000 total from their own personal funds and received an additional $75,000 from The Southborough Group of Angel Investors in exchange for ownership in the new company in the form of common stock. The company, named Hsich Consulting, is organized as a corporatiorn 2. On Jan 1, The Company received $20,000 from Mr:. Clark as a loan. The Company will repay this money at the end of 5 years. Each year the company will pay Mr. Clark interest on the loan at an annual rate of 8%. On Jan 1, The Company found a location for its business. Upon signing a two- year lease at the beginning of the year, they paid 13 months' rent in advance. This totaled $15,600. 3. On Jan 10, the Company spent $21,000 in cash to acquire computer equipment ($18,000) and office equipment ($3,000). 4. Later on May 20, the Company purchased 20 Quickbook accounting software packages for $10,000 on account. 5. 6. On June 10, The Company paid $10,000 of its accounts payable during the year. The company hired a college student at UMass Dartmouth to help with providing services to clients. On Dec 31, the employee was paid $4,000 in cash for work performed during the first year of operations. 7