31, The Accounting Cycle LO2, 3, 4, 5 Ruberstein, Inc. was founded on April 1 and entered into the following transactions: Apr. 1 ssued common stock to shareholders in exchange for cash, $20,000. 1 Purchased a delivery van (equipment), $13,000. 1 Purchased a one-year insurance policy to be consumed evenly over the next 12 months, $4,800. 1 Took out a loan from First Bank, $20,000. 6 Hired two new employees on salary of S1,000 a month each. 6 Received prepayment for a contracted job to be performed in May, $4,500. 7 Purchased office supplies on credit, $1,200. 8 Billed customers for services provided, $7,500. 12 Paid to have an ad placed on a billboard during April, $1,300 18 Billed customers for services provided, $8,600. 24 Paid dividends to stockholders, $1,000. 30 Received utility bills for the month of April to be paid next month, $740. 30 Prepaid the next six months of rent starting with May, $3,600. Additional Information 1. April depreciation for the delivery van is $217 2. Interest on the loan from the bank is paid annually at a rate of 6%. 3. An inventory count of office supplies at April 30 showed $500 of supplies on hand. 4. Prepaid insurance has expired. 5. Employees' salaries earned during April but to be paid in May, $2,000. Required a. the transactions for the math of April b. Post the journal entries to the general ledger using T-accounts