Problem $2-1$A $($Algo$)$ Preparing and posting journal entries; preparing a trial balance LO A$1,$ P$1$

Karla Tanner opened a Web consulting business called Linkworks and completed the following transactions in its first month of operations.

April $1$ Tanner invested $$140,000$ cash along with office equipment valued at $$33,600$ in the company.

April $2$ The company prepaid $$7,200$ cash for $12$ months' rent for office space. Hint: Debit Prepaid Rent for $$7,200.$

April $3$ The company made credit purchases for $$16,800$ in office equipment and $$3,360$ in office supplies. Payment is due within $10$ days.

April $6$ The company completed services for a client and immediately received $$2,000$ cash.

April $9$ The company completed a $$11,200$ project for a client, who must pay within $30$ days.

April $19$ The company paidd $$20,160$ cash to settle the account payable created on April $3.$

April $19$ The company paid $$6,000$ cash for the premium on a $12-$month prepaid insurance policy. Hint: Debit Prepaid

April $22$ The company received $$8,960$ cash as partial payment for the work completed on April $9.$

April $25$ The company completed work for another client for $$2,640$ on credit.

April $29$ The Ther withdrew $$6,200$ cash from the company for personal use.

April $30$ The company purchased $$1,120$ of additional office supplies on credit.

Required:

Prepare general journal entries to record these transactions using the following titles: Cash $(101)$; Accounts Recelvable $(106)$; Office Supplles $(124)$; Prepaid Insurance $(128)$; Prepald Rent $(131)$; Office Equipment $(163)$; Accounts Payable $(201)$; K$.$ Tanner, Capital $(301)$; K$.$ Tanner, Withdrawals $(302)$; Services Revenue $(403)$; and Utillties Expense $(690).$

Post the journal entries from part $1$ to the ledger accounts.

Prepare a trial balance as of April $30.$

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