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On April 1, Isaac Carter created a new travel agency, Carter Travel. The following transactions occurred during the company's first month. April 2 Carter invested

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On April 1, Isaac Carter created a new travel agency, Carter Travel. The following transactions occurred during the company's first month. April 2 Carter invested $37,000 cash and computer equipment worth $18,000 in the company. April 3 The company rented furnished office space by paying $2,100 cash for the first month's (April) rent. April 4 The company purchased $2,000 of office supplies for cash. April 10 The company paid $3,600 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,400 cash for two weeks' salaries earned by employees. April 24 The company collected $14,000 cash for commissions revenue. April 28 The company paid $1,400 cash for two weeks' salaries earned by employees. April 29 The company paid $500 cash for minor repairs to computer equipment. April 30 The company paid $600 cash for this month's telephone bill. April 30 Carter withdrew $2,200 cash from the company for personal use. Information for month-end adjustments follows: a. Prepaid insurance of $200 expired this month. b. At the end of the month, $600 of office supplies are still available. c. This month's depreciation on computer equipment is $300. d. Employees earned $560 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,840 of commissions revenue that is not yet recorded at month-end. 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. Adjusted CARTER TRAVEL Income Statement For Month Ended April 30 Revenues: Expenses: Net income CARTER TRAVEL Balance Sheet April 30 ASSETS Current assets: Plant assets: LIABILITIES AND EQUITY Current liabilities: \begin{tabular}{|l|r|r|r|} \hline & $ & 0 & \\ \hline \hline & & 0 & \\ \hline Equity & & $ & 0 \\ \hline & & & \\ \hline & & \\ \hline \end{tabular}

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