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 $40,000 cash and computer equipment worth $35,000 in the company in exchange for common stock. April 2 The company rented furnished office space by paying $1,600 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 $2,500 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,500 cash for two weeks' salaries earned by employees. April 24 The company collected $14,000 cash for commissions revenue. April 28 The company paid $1,500 cash for two weeks' salaries earned by employees. April 29 The company paid $450 cash for minor repairs to the company's computer. April 30 The company paid $900 cash for this month's telephone bill. April 30 The company paid $2,100 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: a. Prepaid insurance of $139 has expired this month. 622 637 640 650 405 Commissions Revenue 612 Depreciation Expense-Computer Equipment Salaries Expense Insurance Expense Rent Expense Office Supplies Expense 684 Repairs Expense Telephone Expense Income Summary 688 901 b. At the end of the month, $400 of office supplies are still available. c. This month's depreciation on the computer equipment is $500. d. Employees earned $370 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,300 of commissions that are not yet billed at month-end. Required: 1. & 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. 4. Journalize the adjusting entries for the month and prepare the adjusted trial balance. 5a. Prepare the income statement for the month of April 30. 5b. Prepare the statement of retained earnings for the month of April 30. 5c. Prepare the balance sheet at April 30. 6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6b. 6b. Post the journal entries to the ledger. 7. Prepare a post-closing trial balance.