Prepare journal entry:

8 April 2023 Study Solutions purchased $12,000 of marketing materials to display on university campuses. Payment is not due for 7 days. 12 April 2023 A staff member resigned from Study Solutions to take up a new job opportunity in Canada. His final day will be 21 April 2023. Due to operating efficiencies, Rachel and Grace decided that they will not need to replace the staff member and so expect to save $42,000 in wages per year. 15 April 2023 Study Solutions made a $4,000 sale of books to a university bookstore. This customer is required to make payment in 14 days. The cost of the inventory sold was $2,000. 15 April 2023 Study Solutions made a payment of $2,000 related to the marketing materials purchased on 8 April 2023. The balance remains outstanding. 19 April 2023 Rachel discovers that the personal information, including credit card details, of many app users has been incorrectly stored on an unsecured server. It is unclear at this stage if the data has been accessed by anyone outside of the organisation. 22 April 2023 Study Solutions was named in a damaging post on Facebook and had to apply to Facebook to have the review removed. On 25 April the post was removed. During the period 22 April - 25 April, three universities contacted Study Solutions to advise that they will not purchase any further books from the business. These lost future sales are estimated to total $12,000 per year. 23 April 2023 Study Solutions is temporarily running low on cash and takes out a bank overdraft of $6,000 order to pay the office rent for the month. 24 April 2023 Grace decides to cease using their offshore supplier after learning that the offshore supplier they had been using was not providing safe working conditions for staff. It has been reported that 6 staff were seriously injured in the past 3 weeks. Furthermore, the supplier had claimed to be providing eco-friendly ink, but it turns out that the ink being used was quite harmful to the environment. As a result, Study Solutions has unknowingly been providing misinformation to their customers. The back cover of the guide had stated "printed using nontoxic and eco-friendly materials