please provide me with the journal entries.

B A D E F G H 1 Part XXX Accounting Cycle 2 3 JM Travel and Tours is a travel agency that offers international and local travel services. The company is owned and operated by Justine Mendoza. The closing balances at the end of March 2020 and the chart of accounts are shown below. 5 5 B 0 1 JM Travel and Tours Balance Sheet As at March 31, 2020 Liabilities Current Liabilities Accounts Payable Unearned Revenue Bank loan-current portion due $ 18,870 Total Current Liabilities $ 2 3 4 Assets Current Assets Cash $ 12,450 Accounts Receivable 6,420 Prepaid Insurance Totals Current Assets Property, Plant & Equipment Equipment $ 61,000 Accumulated Depreciation (7.700) Total Property, Plant & Equipment 16,400 8,800 6.000 31,200 5 6 17 18 24,000 55,200 Bank Loan - Non-current portion Total Liabilities 53,300 Owner's Equity Mendoza Capital Total Liabilities & Owners' $ 72,170 Equity 20 16,970 21 Total Assets 72,170 222 23 24 Account # Account # 25 26 27 28 Account Description ASSETS Cash Accounts Receivable Drenain Insurance Account Description REVENUE Travel Service Revenue EXPENSES Advertising Finance 101 105 400 110 son 100% % 0 0 .00 123 Default (Ca. 10 BISA A1 fx Part XXX B H D E F G Total Liabilities & Owners' $ 72,170 Equity 21 Total Assets 72,170 Account # Account # 22 23 24 25 26 27 28 29 30 31 400 101 105 110 120 125 Account Description ASSETS Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation LIABILITIES Accounts Payable Bank Loan Interest Payable Salary Payable Unearned Revenue Bank Loan-Current Portion Bank Loan-Non-Current Portion OWNER'S EQUITY Mendoza Capital Mendoza Withdrawals Income Summary Account Description REVENUE Travel Service Revenue EXPENSES Advertising Expense Depreciation Expense Insurance Expense Interest Expense Rent Expense Salaries Expense Telephone Expense Travel Expense 500 510 515 520 540 545 550 555 32 33 34 35 36 37 38 39 40 41 42 200 205 210 215 217 220 300 310 315 For the month of April 2020, JM Travel and Tours had the following transactions: B & B 44 45 46 42 Apr 1 Prepaid $7,200 for insurance for one year *Apr 1 Received $12,000 from Bank Loan to be repaid in 6 months plus accrued interest at 5%. Daid 2 10 rach for Anrile rent Anes + Case Study Journal Ledger Worksheet Adjustments State! Default (Ca. . A1 - A F G J 45 46 47 49 50 51 52 53 100% $ % . .00 123 10 BISA fx Part XXX B D E H For the month of April 2020, JM Travel and Tours had the following transactions: Apr 1 Prepaid $7,200 for insurance for one year *Apr 1 Received $12,000 from Bank Loan to be repaid in 6 months plus accrued interest at 5%. Apr 5 Paid $2,100 cash for April's rent Apr 6 Provided $15,000 of travel services for clients on account. Apr 7 incurred $9,200 in travel expenses to be paid next month. Apr 11 Purchased equipment with $8,800 cash Apr 15 Paid $8,200 cash to reduce the balance of accounts payable Apr 16 Justine invested $9,200 cash and equipment valued at $7,200 into the business Apr 18 Received $3,210 from customers as payments on account for traveller services provided last month. Apr 20 Received a telephone bill for $1,710 which was paid same day Apr 23 Paid $3,200 cash for employee's salaries Apr 25 Received $15,000 cash in advance from clients who will receive travel services next month. **Apr 26 Paid the monthly payment of the bank loan, $500 plus interest of $75. Apr 27 Provided travel services for clients for $30,000 cash Apr 28 Paid $3,000 advertising expense for the promotion of the travel and tours in the month of April Apr 29 The owner withdrew $2,500 cash for personal use 54 55 56 57 58 3 9 8 8 60 62 63 64 65 66 * Since the loan is to be repaid in less than one year, use the Bank Loan-Current Portion for the credit entry ** Use the Bank Loan-Non-Current Portion for the credit entry since the same amount is still due over the next 12 months; therefore amount of current portion has not changed. 67 6B 69 At the end of April, the following adjustment had to be journalized to properly report the balances of the company's Since the loan is to be repaid in less than one year, use the Bank Loan-Current Portion for the credit entry ** Use the Bank Loan Non-Current Portion for the credit entry since the same amount is still due over the next 12 months; therefore amount of current portion has not changed. 67 At the end of April, the following adjustment had to be journalized to properly report the balances of the company's 69 70 21 72 accounts: Apr 30 Recognized $3,500 of Unearned Revenue as being earned during the month of April. Apr 30 Interest of $50 has accrued on the bank loan. Apr 30 One month of prepaid insurance worth $600 has expired. Apr 30 One month of depreciation for $500 needs to be recorded Apr 30 Accrued salary expense of $720 needs to be recorded Note: The bank loan is repayable in monthly payments of $500 plus interest. Current portion is $6,000 ($500x12) and long-term is $24,000. When recording monthly payment, please be sure to debit the non-current portion and not the current portion as the latter will not change until the last year of the loan. Required: a) Enter the opening balances from the March 2020 balance sheet into the general ledger accounts. b) Prepare the journal entries for the month of April and post them to the appropriate general ledger accounts. c) Create the trial balance in the worksheet, and then complete the remaining section of the worksheet. d) Create the income statement, statement of owner's equity and the classified balance sheet. e) Prepare the journal entries for the adjustments and post them to the appropriate general ledger accounts. f) Prepare the journal entries to close the books for the month of April 2020(use the income summary account), and post the journal entries to the appropriate genera 8) Create the post-closing trial balance. B2 83 84 85 86 87