On April 1. Edward Lee created a new travel agency. Lee Travel. The following transactions occurred during the company's first month Apri1. 2 Lee invested $32,060 cash and computer equipment worth $7,898 in the company. April 3 The company rented furnished office space by paying $2,000 cash for the first month's (Aprit) rent. Aprit. 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 enployees. April 24 The company collected \$12,00e cash for commissions revenue. Aprit 28 The company paid $1,540 cash for two weeks' salaries earned by enployees. April 29 The company paid $650 cash for minor repairs to conputer equipnent. April.30. The company paid $450 cash for this month's telephone bill. April 30 Lee withdrew $1,700 cash tron the conpany for personal use. 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 avaliable. 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 joumal entries for Lee Travel's frist 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 Owner's Equity 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-dosing trial balance
