Accounting Cycle On April 1, 2012. Troy Lambert created a new travel ageney called Bayou Travel. The company was organized as a corporation and has a monthly accounting period. The following transactions occurred during the company's first month. April Lambert invested $32,000 cash and computer equipment worth $24,000 in the company. The company rented furmished office space by paying $1,550 cash for the month's (April) rent. April 2 April 3The company purchased $2,100 of office supplies for cash. The company paid $3,000 cash for the premium on a 12-month insurance policy. The company paid $2,300 cash for two-weeks' salaries eaned by employees. April I0 Coverage begins on April 11. April 14 April 24 The company collected $16,000 cash on commissions from airlines on tickets obtained for customers. The company paid another $2.300 cash for two weeks' salaries earned by employees. April 28 The company paid $700 cash for minor repairs to the company's computer April 29 April 30 April 30 The company paid $950 cash for this month's telephone bill. Lambert withdrew $700.00 from the business The company's chart of accounts follows: Commissions Earned Depreciation Expense-Computer Equip. Salaries Expense Insurance Expense Rent Expense Office Supplies Expense Repairs Expense Telephone Expense Income Summary Cash Accounts Receivable Office Supplies Prepaid Insurance Computer Equipment Accumulated Depreciation-Computer Equip. Salaries Payable T. Lambert, Capital T. Lambert, Withdrawals