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On April 1, Carlos Sanchez created a new travel agency, Sanchez Travel. The following transactions occurred during the company's first month. April 2 Sanchez invested $35,000 cash and computer equipeent worth $16,800 in the conpany in exchange for its common stock. Apri1 3. The company rented furnished office space by paying $1,900 cash for the first month:s (Apri1) rent. April 4 The coepany purchased $1,600 of office supplies for cash. Apri1 10 The conpany paid $2,880 cash for a 12 -month insurance policy, Coverage begins on April 11 . Apri1 14 the company paid 51,96e cash for two weeks" salaries earned by employees. April 24 The company collected $26,000 cash for commissions revenue. Apri1 28 The company paid $1,960 cash for two weeks' salaries earned by esployees. Apri1 29 The company paid $650 cash for minor repoirs to computer equipeent. April 30 The coepany paid $500 cash for this month's telephone bill. April 30 The conpany paid \$2,00e cash in dividends. Information for month-end adjustments follows: a. Prepaid insurance of $160 expired this month. b. At the end of the month, $1,050 of office supplies are still avallable. c. This month's depreciation on computer equipment is $280. d. Employees eamed $784 of unpaid and unrecorded salaries as of month-end. e. The company earned $1.820 of commissions revenue that is not yet recorded at month-end. Prepare the required journal entries, adjusting entries, and closing entries for Sanchez Travel. On April 1, Carlos Sanchez created a new travel agency, Sanchez Travel. The following transactions occurred during the company's first month. April 2 Sanchez invested $35,000 cash and computer equipeent worth $16,800 in the conpany in exchange for its common stock. Apri1 3. The company rented furnished office space by paying $1,900 cash for the first month:s (Apri1) rent. April 4 The coepany purchased $1,600 of office supplies for cash. Apri1 10 The conpany paid $2,880 cash for a 12 -month insurance policy, Coverage begins on April 11 . Apri1 14 the company paid 51,96e cash for two weeks" salaries earned by employees. April 24 The company collected $26,000 cash for commissions revenue. Apri1 28 The company paid $1,960 cash for two weeks' salaries earned by esployees. Apri1 29 The company paid $650 cash for minor repoirs to computer equipeent. April 30 The coepany paid $500 cash for this month's telephone bill. April 30 The conpany paid \$2,00e cash in dividends. Information for month-end adjustments follows: a. Prepaid insurance of $160 expired this month. b. At the end of the month, $1,050 of office supplies are still avallable. c. This month's depreciation on computer equipment is $280. d. Employees eamed $784 of unpaid and unrecorded salaries as of month-end. e. The company earned $1.820 of commissions revenue that is not yet recorded at month-end. Prepare the required journal entries, adjusting entries, and closing entries for Sanchez Travel

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