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On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 1 Nozomi invested $42,000 cash and computer equipment worth $25,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,900 cash for the first month's (April) rent. 3 The company purchased $1,100 of office supplies for cash. 10 The company paid $2,900 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $800 cash for two weeks' salaries earned by employees. 24 The company collected $15,500 cash for commissions earned. 28 The company paid $800 cash for two weeks' salaries earned by employees. 29 The company paid $500 cash for minor repairs to the company's computer. 30 The company paid $1,250 cash for this month's telephone bill. 30 The company paid $2,300 cash in dividends. The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment Accumulated Depreciation- Computer Equip. 209 Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends 405 Commissions Earned 612 Depreciation Expense- Computer Equip. 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary 168 Use the following information: a. Prepaid insurance of $161 has expired this month. b. At the end of the month, $800 of office supplies are still available. c. This month's depreciation on the computer equipment is $500. d. Employees earned $470 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,050 of commissions that are not yet billed at month-end. Required: 1. & 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. 4. Journalize the adjusting entries for the month and prepare the adjusted trial balance. 5a. Prepare the income statement for the month of April 30. 5b. Prepare the statement of retained earnings for the month of April 30. 5c. Prepare the balance sheet at April 30. 6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6b. 6b. Post the journal entries to the ledger. 7. Prepare a post-closing trial balance. Required: 1. & 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. 4. Journalize the adjusting entries for the month and prepare the adjusted trial balance. 5a. Prepare the income statement for the month of April 30. 5b. Prepare the statement of retained earnings for the month of April 30. 5c. Prepare the balance sheet at April 30. 6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6b. 6b. Post the journal entries to the ledger. 7. Prepare a post-closing trial balance. Complete this question by entering your answers in the tabs below. Req 1 Req 4 Req 4 Req 3 and 2 Req 6B Adj Adj Trial Req 5A Req 5B Req 5C Req 6A Req 7 GL Prepare journal entries to close the temporary accounts and then post to Req 6B General Ledger, using April 30 Close as the date. View transaction list View journal entry worksheet No Date General Journal 1 April 30 Commissions earned Income summary Debit Credit 2 April 30 Income summary Rent expense Salaries payable Repairs expense Telephone expense Office supplies expense Depreciation expense-Computer equip. 3 April 30 Income summary Retained earnings 4 April 30 Retained earnings Dividends Reg 3 Reg 7 Reg 1 Req 4 Req 4 and 2 Adj Adj Trial Req 5A Req 5B Req 5C Req 6a Reg 6B GL Post the journal entries to the ledger. General Ledger accounts 101: Cash Debit Credit 106: Accounts Receivable Debit Credit Balance Date Balance Date April 1 April 2 April 3 April 10 April 14 April 24 April 28 April 29 'April 30 April 30 124: Office Supplies Debit Credit 128: Prepaid Insurance Debit Credit Date Balance Date Balance 167: Computer Equipment Debit Credit 168: Accumulated Depreciation-Computer equipment Date Debit Credit Balance Date Balance 209: Salaries Payable Debit Credit 307: Common Stock Debit Credit Date Balance Date Balance 318: Retained Earnings Debit Credit Date 319: Dividends Debit Credit Balance Date Balance 405: Commissions Earned 612: Depreciation Expense-Computer Equipment Date Debit Credit Balance Date Debit Credit Balance 209: Salaries Payable Debit Credit 307: Common Stock Debit Credit Date Balance Date Balance 318: Retained Earnings Debit Credit Date 319: Dividends Debit Credit Balance Date Balance 405: Commissions Earned 612: Depreciation Expense-Computer Equipment Date Debit Credit Balance Date Debit Credit Balance 622: Salaries Expense Debit Credit 637: Insurance Expense Debit Credit Date Balance Date Balance 640: Rent Expense Debit Credit 650: Office Supplies Expense Date Debit Credit Balance Date Balance 684: Repairs Expense Debit Credit 688: Telephone Expense Debit Credit Date Balance Date Balance 901: Income Summary Debit Credit Date Balance

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