On April 1, 2016, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the companys first month. April 1 Nozomi invested $30,000 cash and computer equipment worth $20,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $1,800 cash for the first months (April) rent. 3 The company purchased $1,000 of office supplies for cash. 10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 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 companys computer. 30 The company paid $750 cash for this months telephone bill. 30 The company paid $1,500 cash in dividends. Descriptions of items that require adjusting entries on April 30, 2016, follow. a.Two-thirds (or $133) of one months insurance coverage has expired. b.At the end of the month, $600 of office supplies are still available. c.This months 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.\

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