On April 1, Edward Lee created a new travel agency, Lee Travel. The following transactions occurred during the company's first month. April 2 Lee invested $32,000 cash and computer equipment worth $7,800 in the company in exchange for its common stock. April 3 The company rented furnished office space by paying $2,000 cash for the first month's (April) rent. April 4 The company purchased $1,400 of office supplies for cash. April 10 The company paid $1,800 cash for a 12-month insurance policy. Coverage begins on April 11 . April 14 The company paid $1,540 cash for two weeks' salaries earned by employees. April 24 The company collected $12,000 cash for commissions revenue. April 28 The company paid $1,540 cash for two weeks' salaries earned by employees. April 29 The company paid $650 cash for minor repairs to computer equipment. April 30 The company paid $450 cash for this month's telephone bill. April 30 The company paid $1,700 cash in dividends. Information for month-end adjustments follows: a. Prepaid insurance of $100 expired this month. b. At the end of the month, $700 of office supplies are still available. c. This month's depreciation on 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 revenue that is not yet recorded at month-end. b. At the end of the month, $700 of office supplies are still available. c. This month's depreciation on 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 revenue that is not yet recorded at month-end. General Journal tab - Prepare journal entries for Lee Travel's first month of operations. Prepare any necessary adjusting and closing entries for the current month. General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted, adjusted, or post-closing balances. Trial Balance tab - You may view the unadjusted, adjusted, or post-closing trial balances by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs. Income Statement tab - Use the drop downs to select the accounts properly included on the income statement. The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection. Statement of Retained Earnings tab - The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection. Balance Sheet tab - Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection. Post-Closing tab - Use the drop-downs to indicate whether each account is included on the post-closing trial balance. Journal entry worksheet \begin{tabular}{l} \hline \\ Lee invested $32,000 cash and computer equipment worth $7,800 in the \\ company in exchange for its common stock. \end{tabular} Note: Enter debits before credits. Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted, adjusted, or post-closing balances. You may view either the unadjusted, adjusted, or post-closing trial balance by choosing from the drop-down box below. Your choice will determine the reported values on the financial statement tabs. Unadjusted LEE TRAVEL Income Statement For Month Ended April 30 \begin{tabular}{|l|r|l|} \hline Revenues: & \$ & \\ \hline & 0 & \\ \hline & & \\ \hline Expenses: & & \\ \hline & 0 & \\ \hline & 0 & \\ \hline & 0 & \\ \hline & 0 & \\ \hline & 0 & \\ \hline & 0 & \\ \hline & 0 & \\ \hline & 0 & \\ \hline \end{tabular} Trial Balance St of Retained Eernings Unadjusted \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ LEE TRAVEL } \\ \hline \multicolumn{2}{|c|}{ Statement of Retained Earnings } \\ \hline \multicolumn{2}{|c|}{ For Month Ended April 30 } \\ \hline Retained earnings, April 1 & \\ \hline & \\ \hline & \\ \hline & \\ \hline Retained earnings, April 30 & \\ \hline \end{tabular} Income statement Balance Sheet Unadjusted LEE TRAVEL Balance Sheet April 30 ASSETS Current assets: 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