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 $37,000 cash and computer equipment worth $20,000 in the company in exchange for its common stock. April 3 The company rented furnished office space by paying $1,600 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 $2,700 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,100 cash for two weeks' salaries earned by employees. April 24 The company collected $13,500 cash for commissions revenue. April 28 The company paid $1,100 cash for two weeks' salaries earned by employees. April 29 The company paid $350 cash for minor repairs to computer equipment. April 30 The company paid $950 cash for this month's telephone bill. April 30 The company paid $1,570 cash in dividends. The company's chart of accounts follows: 101 Cash 106 124 Accounts Receivable Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equipment 209 Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends Use the following information to prepare adjusting entries: a. Prepaid insurance of $150 expired this month. 403 Commissions Revenue 612 Depreciation Expense-Computer Equipment 622 Salaries Expense 637 640 Insurance Expense Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary b. At the end of the month, $600 of office supplies are still available. c. This month's depreciation on computer equipment is $500. d. Employees earned $560 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,800 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 Requirement 6B GL tab. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 6B GL tab, prepare an unadjusted trial balance as of April 30. 4. Journalize the adjusting entries for the month, and then post to the ledger on Requirement 6B GL tab, using April 30 Adjusted as the date. 5a. Using adjusted account balances from Requirement 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 retained earnings 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 Requirement 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. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5A Req 5B Req 5C Req 5D Req 6A Req 6B GL Req 7 Prepare the statement of retained earnings for the month of April 30. ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30 Retained earnings, April 1 Add: Net income $ 0 6,275 X 6,275 Less: Dividends 1,570 Retained earnings, April 30 $ 4,705 < Req 5B Req 5D > *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted.