1. Prepare journal entries for sanchez travel's first month of operations.

2. Prepare any necessary adjusting entries for the current month.

3. prepare any necessary closing entries for the current month.

4. Prepare the T-account including the transaction journal entries, adjusting journal entries, and closing journal entries ( if needed ). For each T-account, write whether the account is a PERMANENT account or a TEMPORARY account.

5. Prepare the post-closing trial balance.

On April 1, 2017, Carlos Sanchez created a new travel agency, Sanchez Travel. The following transactions occurred during the company's first month. Apr. 1 Sanchez invested $35,000 cash and computer equipment worth $16,800 in the company. Apr. 2 The company rented furnished office space by paying $1,900 cash for the first month's (April) rent. Apr. 3 The company purchased $1,600 of office supplies for cash. Apr. 10 The company paid $2,880 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. Apr. 14 The company paid $1,960 cash for two weeks' salaries earned by employees. Apr. 24 The company collected $26,000 cash on commissions from airlines on tickets obtained for customers. Apr. 28 The company paid $1,960 cash for two weeks' salaries earned by employees. Apr. 29 The company paid $650 cash for minor repairs to the company's computer. Apr. 30 The company paid $500 cash for this month's telephone bill. Apr. 30 Sanchez withdrew $2,000 cash from the company for personal use. Information for month-end adjustments follows: a. Two-thirds (or $160) of one month's insurance coverage has expired. b. At the end of the month, $1,050 of office supplies are still available. c. This month's depreciation on the computer equipment is $280. d. Employees earned $784 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,820 of commissions that are not yet billed at month- end