On April 1, 2017, Jiro Nozomi created a new travel agency,Adventure Travel. The following transactions occurred during thecompany’s first month.

April		1		Nozomi invested$34,000 cash and computer equipment worth $25,000 in the company inexchange for common stock.
		2		The company rentedfurnished office space by paying $2,000 cash for the first month’s(April) rent.
		3		The companypurchased $1,400 of office supplies for cash.
		10		The company paid$2,300 cash for the premium on a 12-month insurance policy.Coverage begins on April 11.
		14		The company paid$1,300 cash for two weeks' salaries earned by employees.
		24		The companycollected $18,500 cash on commissions from airlines on ticketsobtained for customers.
		28		The company paid$1,300 cash for two weeks' salaries earned by employees.
		29		The company paid$550 cash for minor repairs to the company's computer.
		30		The company paid$1,150 cash for this month's telephone bill.
		30		The company paid$2,500 cash in dividends.

The company's chart of accounts follows:

101	Cash	405	Commissions Earned
106	AccountsReceivable	612	DepreciationExpense—Computer Equip.
124	OfficeSupplies	622	SalariesExpense
128	PrepaidInsurance	637	InsuranceExpense
167	ComputerEquipment	640	RentExpense
168	AccumulatedDepreciation—Computer Equip.	650	Office SuppliesExpense
209	SalariesPayable	684	RepairsExpense
307	CommonStock	688	TelephoneExpense
318	RetainedEarnings	901	IncomeSummary
319	Dividends

Use the following information:

1. Two-thirds (or $128) of one month’s insurance coverage hasexpired.
2. At the end of the month, $700 of office supplies are stillavailable.
3. This month’s depreciation on the computer equipment is$500.
4. Employees earned $600 of unpaid and unrecorded salaries as ofmonth-end.
5. The company earned $1,750 of commissions that are not yetbilled at month-end.

Required:
1. & 2. Prepare journalentries to record the transactions for April and post them to theledger accounts in Requirement 6b. The company records prepaid andunearned items in balance sheet accounts.
3. Using account balances from Requirement 6b,prepare an unadjusted trial balance as of April 30.
4. Journalize and post the adjusting entries forthe month and prepare the adjusted trial balance.
5a. Prepare the income statement for the month ofApril 30, 2017.
5b. Prepare the statement of retained earnings forthe month of April 30, 2017.
5c. Prepare the balance sheet at April 30,2017.
6a. Prepare journal entries to close the temporaryaccounts and then post to Requirement 6b.
6b. Post the journal entries to the ledger.
7. Prepare a post-closing trial balance.