Required: prepare Journal entries to record the transaction.

Please full calculation and explanation.

Problem 2-4A Preparing general journal entries LO3,5 Factor Accounting and completed these activities Abe Factor opened a new accounting pract during March 2017: 000 in cash and office equipment that had a fair value of $12.000 1 Prepai d $4,000 cash for three months rent for an office t purchases of used office equipment for $6,000 and office supplies for $1,200 Completed work for a client and immediately received $6.200 cash. q Completed a $4,000 project for a client, who will pay within 30 days. Le 11 Paid the account payable created on March 3epu 15 Paid $3,000 c ash for the annual premium on an insurance policy. O as partial payment for the work completed on March q 22 23 27 30 31 Placed an order with a supplier for $4,800 of supplies to be delivered April 7. They must be paid for within 15 days of being received. Completed work for another client for $2,850 on credit. Abe Factor withdrew $3,600 cash from the business to pay some personal expenses. Purchased $650 of additional office supplies on credit Paid $860 for the month's utility bill