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Please solve this problem Exercise 3-12 On April 1, Adventures Travel Agency, Inc. began operations. The following transactions were completed during the month. Issued common
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Exercise 3-12 On April 1, Adventures Travel Agency, Inc. began operations. The following transactions were completed during the month. Issued common stock for $24,000 cash. 1. 2. Obtained a bank loan for $7,000 by issuing a note payable. 3. Paid $11,000 cash to buy equipment 4. Paid $1,200 cash for April office rent. 5. Paid $1,450 for supplies 6. Purchased $600 of advertising in the Daily Herald, on account. 7. Performed services for $18,000: cash of $2,000 was received from customers, and the balance of $16,000 was billed to customers on account 8. Paid $400 dividend to stockholders. 9. Paid the utility bill for the month, $2,000. 10 Paid Daily Herald the amount due in transaction (6). 11. Paid $40 of interest on the bank loan obtained in transaction (2) 12 Paid employees' salaries, $6,400. 13. Received $12,000 cash from customers billed in transaction (7). 14. Paid income tax, $1,500 Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account tit amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit
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