On April 1, Jiro Nozomi created a new travel agency. Adventure Travel. The following transactions occurred during the company's first month. April 2 Nozomi invested $40,000 cash and computer equipment worth $20,000 in the company. April 3 The company rented furnished office space by paying $1,800 cash for the first month's (April) rent. April 4 The company purchased $1,700 of office supplies for cash. April 10 The company paid $2,700 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,800 cash for two weeks' salaries earned by employees. April 24 The company collected $8,500 cash for commissions revenue. April 28 The company paid $1,800 cash for two weeks' salaries earned by employees. April 29 The company paid $400 cash for minor repairs to computer equipment. April 30 The company paid $1,400 cash for this month's telephone bill. April 30 Nozomi withdrew $1,900 cash from the company for personal use. The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Office Supplies 403 Commissions Revenue 612 Depreciation Expense-Computer Equipment 622 Salaries Expense Insurance Expense Rent Expense 128 Prepaid Insurance 637 167 Computer Equipment 640 168 Accumulated Depreciation-Computer Equipment 650 Office Supplies Expense 209 Salaries Payable 684 Repairs Expense 301 3. Nozomi, Capital 688 Telephone Expense 302 3. Nozomi, withdrawals 901 Income Summary Use the following Information to prepare adjusting entries: a. Prepaid Insurance of $150 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 $400. d. Employees earned $460 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,950 of commissions revenue that is not yet recorded at month-end. Required: 1. & 2. Prepare journal entries to record the transactions for April and post them to ledger accounts in Req 6B GL tab. The company records prepaid and unearned Items in balance sheet accounts. 3. Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. 4. Journalize the adjusting entries for the month, and then post to the ledger on Req 6B tab, using April 30 Adjusted as the date. 5a. Using adjusted account balances from Req 6B GL tab, prepare an adjusted trial balance as of April 30. 5b. Prepare the income statement for the month of April 30. 5c. Prepare the statement of owner's equity for the month of April 30. 5d. Prepare the balance sheet at April 30. 6a. Prepare journal entries to close the temporary accounts and then post to Req 6B GL tab, using April 30 Close as the date. 6b. Post the journal entries to the ledger. 7. Prepare a post-closing trial balance. Req 1 and 2 Req 3 Req 4 Req 5A Req 5B Req 5C Req 5D Req 6A Req 6B GL Req 7 Post the journal entries to the ledger. (For April 30, choose the dropdown that most accurately describes the entry.) General Ledger accounts 101: Cash 106: Accounts Receivable Date Debit Credit Balance Date Debit Credit Balance April 2 40,000 April 3 1,800 40,000 38,200 April 30 Adjusted 1,950 1,950 April 4 1,700 36,500 April 10 2,700 33,800 April 14 1,800 32,000 April 24 8,500 40,500 April 28 1,800 38,700 April 29 400 38,300 April 30 Telephone 1,400 36,900 April 30 WD 1,900 35,000 Date April 4 April 30 Adjusted Date April 2 124: Office Supplies Debit 1,700 128: Prepaid Insurance Credit Balance Date Debit Credit Balance 1,000 1,700 700 April 10 2,700 April 30 Adjusted 150 2,700 2,550 167: Computer Equipment Debit 20,000 168: Accumulated Depreciation-Computer equipment Balance Debit Credit 400 400 Credit Balance 20,000 Date April 30 Adjusted Date April 30 Adjusted Date April 30 April 30 Close 209: Salaries Payable Debit 301: J. Nozomi, Capital Credit Balance Date Debit 460 460 April 2 April 30 Close April 30 Close 1,900 302: J. Nozomi, Withdrawals Debit 1,900 Credit Balance 60,000 60,000 0 58,100 403: Commissions Revenue Credit Balance Date Debit Credit Balance 1,900 April 24 8,500 8,500 1,900 0 April 30 Adjusted April 30 Close 1,950 10,450 10,450 0 612: Depreciation Expense-Computer Equipment Date April 30 Adjusted April 30 Close Date April 30 Adjusted April 30 Close Date April 30 Adjusted April 30 Close Debit 400 Credit 637: Insurance Expense Debit 150 400 622: Salaries Expense Balance Date Debit Credit Balance 400 April 14 1,800 1,800 0 April 28 1,800 3,600 April 30 Adjusted 460 4,060 April 30 Close 4,060 0 640: Rent Expense Credit Balance Date Debit Credit Balance 150 April 3 1,800 150 0 April 30 Close 1,800 1,800 0 650: Office Supplies Expense Debit Credit Balance Date 1,000 1,000 April 29 1,000 0 April 30 Close 684: Repairs Expense Debit 400 Credit Balance 400 400 0 Date April 30 Adjusted April 30 Close Date April 30 April 30 Close 650: Office Supplies Expense Debit 1,000 Date 684: Repairs Expense Debit 400 Credit Balance 1,000 April 29 1,000 0 April 30 Close 688: Telephone Expense Debit 1,400 Credit Balance Date 1,400 April 30 Close 1,400 0 April 30 Close April 30 Close < Req 6A Credit Balance 400 400 0 901: Income Summary Debit Req 7 > Credit Balance 10,450 10,450 0x 0 Req 1 and 2 Req 3 Req 4 Req 5A Req 5B Req 5C Req 5D Req 6A Req 6B GL Req 7 Prepare journal entries to close the temporary accounts and then post to Req 6B GL tab, using April 30 Close as the date. General Journal No Date 1 April 30 Commissions revenue Income summary 2 April 30 Income summary Depreciation expense-Computer equip. Salaries expense Insurance expense Rent expense Office supplies expense Repairs expense Telephone expense 3 April 30 Income summary J. Nozomi, Capital 4 April 30 J. Nozomi, Capital J. Nozomi, Withdrawals < Req 5D Req 6B GL > Debit Credit 10,450 10,450 400 4,060 150 1,800 1,000 400 1,400 0 0 1,900 1,900