April 1 Nozomi invested $30,000 cash and computer equipment worth $20,000 in the company. 2 The company rented furnished office space by paying $1,800 cash for the first 3 The company purchased $1,000 of office supplies for cash. 10 The company paid $2,400 cash for the premium 14 The company paid $1,600 cash for two weeks' salaries earned by employees. 24 The company collected $8,000 cash on commissions from airlines on tickets obtained for customers 28 The company paid $1,600 cash for two weeks' salaries earned by employees. 29 The company paid $350 cash for minor repairs to the company's computer. 30 The company paid $750 cash for this month's telephone bill. 30 Nozomi withdrew $1,500 cash from the company for personal use month's (April) rent on a 12-month insurance policy. Coverage begins on April 11 The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 209 Salaries Payable 301 J. Nozomi, Capital 302 J. Nozomi, Withdrawals 405 Comnissions Earned 612 Depreciation Expense Computer Equip. 622 Salaries 637 Insurance Expense 640 Rent Expense Equip.650 office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Surmary Use the following information: a. Two-thirds (or $133) of one month's insurance coverage has expired. b. At the end of the month, $600 of office supplies are still available. c. This month's depreciation on the computer equipment is $500 d. Employees earned $420 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,750 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 Prgy 40, 41 Next >