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 $46,000 cash and computer equipment worth $30,000 in the company in exchange for its common stock. April 3 The company rented furnished office space by paying $2,200 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 $2,340 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 $12,000 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 The company paid $1,570 cash in dividends. The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equipment 209 Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends 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 Use the following information to prepare adjusting entries: a. Prepaid insurance of $130 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 $500 d. Employees earned $450 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,600 of commissions revenue that is not yet recorded at month-end. Reauired: Prepaid insurance of $130 expired this month. Record the required adjusting entry, if any. Note: Enter debits before credits. Transaction General Journal Debit Credit a Insurance expense Prepaid insurance 130 2,210 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 5 k At the end of the month, $600 of office supplies are still available. Record the required adjusting entry, if any. Note: Enter debits before credits. General Journal Transaction b. Insurance expense Prepaid insurance Debit Credit 600 1,400 + Record entry Clear entry View general journal Journal entry worksheet