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GLO402. Based on Problem 4-1A LO C3, P2, P3 On April 1, 2017, Edward Lee created a new travel agency, Lee Travel The following transactions

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GLO402. Based on Problem 4-1A LO C3, P2, P3 On April 1, 2017, Edward Lee created a new travel agency, Lee Travel The following transactions occurred during the company's first month Apr. 1 Lee invested $32,000 cash and computer equipment worth $7,800 in the company. Apr. 2 The company rented furnished office space by paying $2,000 cash for the first month's (April) rent. Apr. 3 The company purchased $1,400 of office supplies for cash. Apr. 10 The company paid $1,800 cash for the presiun on a 12-month insurance policy. Coverage begins on April 11. Apr. 14 The company paid $1,540 cash for two weeks' salaries earned by employees. Apr. 24 The company collected $12,000 cash on commissions from airlines on tickets obtained for customers. Apr. 28 The company paid $1,540 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 $450 cash for this month's telephone bill. Apr. 30 lee withdrew $1,700 cash from the company for personal use. Information for month-end adjustments follows: a. Two-thirds (or $100) of one month's insurance coverage has expired. b. At the end of the month, $700 of office supplies are still available. c. This month's depreciation on the computer equipment is $130. d. Employees earned $616 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,770 of commissions that are not yet billed at month-end. Requirement General Journal General Ledger Trial Balance Income Statement St Owners Equity Balance Sheet Post Closing Begin by selecting "Post-closing from the drop-down below. Then, for each account, use the drop-down to indicate whether the account is included on the post-closing trial balance. Based on your decisions, the post-closing trial balance will be created. Compare your results with the Trial Balance tab. Adjusted Included on Post-closing trial balance? Type of Account Post closing Trial Balance Dr. Cr. Account Accounts receivable Office supplies Prepaid Insurance Computer equipment Accumulated depreciation - Computer equipment Salaries payable E. Lee, Capital E. Lee, Withdrawal Commissions earned Depreciation expense - Computer equipment Salaries expense Insurance expense Rent expense Office supplies expense Repairs expense Telephone expense 0 5 Totais

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