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 $31,000 cash and computer equipment worth $40,000 in the company in exchange for its common stock. April 3 The company rented furnished office space by paying $2,300 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 $2,160 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,000 cash for two weeks salaries earned by employees. April 24 The company collected $12,000 cash for commissions revenue. April 28 The company paid $1,000 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 $1,050 cash for this month's telephone bill. April 30 The company paid $1,580 cash in dividends. The company's chart of accounts follows: 101 Cash Accounts Receivable 128 Prepaid Insurance 106 124 Office Supplies 167 Computer Equipment 168 209 307 Common Stock 318 Retained Earnings Accumulated Depreciation-Computer Equipment Salaries Payable 403 Commissions Revenue, 612 Depreciation Expense-Computer Equipment 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary 319 Dividends