Problem 2-1A (Algo) Preparing and posting journal entries; preparing a trial balance LO A1, P1 Karla Tanner opened a Web consulting business called Linkworks and completed the following transactions in its first month of operations. April 1 Tanner invested $135,000 cash along with office equipment valued at $32,400 in the company in exchange for common stock. 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 $16,200 in office equipment and $3,240 in office supplies. Payment is due within 10 days. April 6 April 9 April 13 April 19 The company completed services for a client and immediately received $2,000 cash. The company completed a $10,800 project for a client, who must pay within 30 days. The company paid $19,440 cash to settle the account payable created on April 3, The company paid $6,000 cash for the premium on a 12-month prepaid insurance policy. Hint: Debit Prepaid Insurance for $6,000. April 22 The company received $8,640 cash as partial payment for the work completed on April 9. April 25 April 28 April 29 April 30 Required: The company completed work for another client for $2,640 on credit. The company paid a $6,200 cash dividend. The company purchased $1,080 of additional office supplies on credit. The company paid $700 cash for this month's utility bill. 1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128), Prepaid Rent (131); Office Equipment (163); Accounts Payable (201), Common Stock (307) Dividends (319); Services Revenue (403), and Utilities Expense (690). 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of April 30 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a trial balance as of April 30. LINKWORKS Trial Balance April 30 Total Debit Credit 0