Problems 3-5A (Algo) Applying the accounting cycle LO P1, P2, P3, P4, P5, P6 On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 1 Nozomi invested $33,000 cash and computer equipment worth $25,000 in the company in exchange for common stock. April 2 The company rented furnished office space by paying $2,100 cash for the first month's (April) rent. April 3 The company purchased $1,700 of office supplies for cash. April 10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,300 cash for two weeks' salaries earned by employees. April 24 The company collected $17,500 cash for commissions revenue. April 28 The company paid $1,300 cash for two weeks' salaries earned by employees. April 29 The company paid $400 cash for minor repairs to the company's computer. April 30 The company paid $1,150 cash for this month's telephone bill. April 30 The company paid $2,200 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 Use the following information: 405 Commissions Revenue 612 Depreciation Expense-Computer Equipment 622 Salaries Expense Insurance Expense 637 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary