Please :

-record the entry to close revenue account(s)

-record the entry to close expense account(s)

-record the entry to close income summary

-record the entry to close owners withdrawals account

THANK YOU!!! :)

Please :

-record the entry to close revenue account(s)

-record the entry to close expense account(s)

-record the entry to close income summary

-record the entry to close owners withdrawals account

THANK YOU!!! :)

On April 1, Sharon Lewis created a new travel agency, Lewis Travel. The following transactions occurred during the company's first month. Apr. 1 Lewis invested $39,000 cash and computer equipment worth $19, 200 in the company. Apr. 2 The company rented furnished office space by paying $2,300 cash for the first month's (April) rent. Apr. 3 The company purchased $2,400 of office supplies for cash. Apr. 10 The company paid $2,160 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. Apr. 14 The company paid $1,680 cash for two weeks' salaries earned by employees. Apr. 24 The company collected $18,000 cash for commissions earned. Apr. 28 The company paid $1,680 cash for two weeks' salaries earned by employees. Apr. 29 The company paid $800 cash for minor repairs to the company's computer. Apr. 30 The company paid $750 cash for this month's telephone bill. Apr. 30 Lewis withdrew $1,800 cash from the company for personal use. Information for month-end adjustments follows: a. Prepaid insurance of $120 has expired this month. b. At the end of the month, $700 of office supplies are still available. C. This month's depreciation on the computer equipment is $320. d. Employees earned $672 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,760 of commissions that are not yet billed at month-end. Journal Entries Date Account Title and Explaination Debit Credit Post. Ref. Apr.1 $ $ 39,000.00 19,200.00 Cash Computer Equipment Lewis, Capital (To record cash and computer equipment invested into business) $ 58,200.00 Apr.2 2,300.00 Rent Expense Cash (To record payment of rent expense) $ 2,300.00 Apr.3 2,400.00 Office Supplies Cash |(To record office supplies purchased) $ 2,400.00 Apr.10 2,160.00 Prepaid Insurance Cash (To record payment of 12 months insurance premium) 2,160.00 Apr.14 1,680.00 Salaries Expense Cash (To record salaries expenses paid) $ 1,680.00 $ 18,000.00 Apr.24 Cash Commission Earned (To record commission earned) $ 18,000.00 Apr.28 1,680.00 Salaries Expense Cash (To record payment of salaries and wages) $ 1,680.00 $ Apr.29 Repairs Expense - Computer Cash (To record computer repair's expenses paid) 800.00 | $ 800.00 Apr.30 750.00 Telephone Expenses Cash (To record payment of telephone expenses) 750.00 $ 1,800.00 Apr.30 Lewis, Withdrawals Cash (To record cash withdrawn for personal use) 1,800.00 120.00 Adjusting Entries Insurance Expense Prepaid Insurance (To record expired portion of prepaid insurance) 120.00 1,700.00 Office Supplies Expense ($2400-$700) Office Supplies (To record office Supplies Expense) $ 1,700.00 320.00 Depreciation Expense Accumulated Depreciation - Computer Equipment (To record Depreciation Expense) $ 320.00 d 672.00 Salaries Expense Salaries Payable (To record accrued salaries expense)) 672.00 1,760.00 Accounts Receivable Commission Earned (To record accrued commission fee) $ 1,760.00