Problem 3-6A Applying the accounting cycle LO P1, P2, P3, P4, P5 On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 1 Nozomi invested $31,800 cash and computer equipment worth $35,eee in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,660 cash for the first month's (April) rent. 3 The company purchased 51,600 of office supplies for cash 10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company pald $1,509 cash for two weeks' salaries earned by employees. 24 The company collected $16,509 cash on commissions from airlines on tickets obtained for customers. 28 The company paid $1,5e0 cash for two weeks salaries earned by employees. 29 The company paid $380 cash for minor repairs to the company's computer. 30 The company paid $1,150 cash for this month's telephone bill 30 The company paid $2,500 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 Equip. 209 Salaries Payable 337 Common Stock 318 Retained Earnings 319 Dividends 405 Comeissions Earned 612 Depreciation Expense-Computer Equlp, 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30, 2017 Retained earnings, April 1, 2017 9,227 9,227 Retained earnings, April 30, 2017 S 9,227