GL0305 (Algo) - Based on Problem 3-5A LO P1, P3, P4, P5, P6

On April 1, Lindsey Martin created a new travel agency, Martin Travel. The following transactions occurred during the companys first month.

April 2	Martin invested $41,000 cash and computer equipment worth $13,200 in the company in exchange for its common stock.
April 3	The company rented furnished office space by paying $2,100 cash for the first months (April) rent.
April 4	The company purchased $1,800 of office supplies for cash.
April 10	The company paid $2,880 cash for a 12-month insurance policy. Coverage begins on April 11.
April 14	The company paid $1,960 cash for two weeks salaries earned by employees.
April 24	The company collected $14,000 cash for commissions revenue.
April 28	The company paid $1,960 cash for two weeks salaries earned by employees.
April 29	The company paid $650 cash for minor repairs to computer equipment.
April 30	The company paid $550 cash for this months telephone bill.
April 30	The company paid $2,000 cash in dividends.

Information for month-end adjustments follows:

1. Prepaid insurance of $160 expired this month.
2. At the end of the month, $750 of office supplies are still available.
3. This months depreciation on computer equipment is $220.
4. Employees earned $784 of unpaid and unrecorded salaries as of month-end.
5. The company earned $1,760 of commissions revenue that is not yet recorded at month-end.

Requirement General Journal General Ledger Trial Balance Income Statement St of Retained Earnings Balance Sheet Post Closing Prepare the required journal entries, adjusting entries, and closing entries for Martin Travel. View transaction list Journal entry worksheet 1 12 13 14 15 16 17 18 19 > Record the entry to close the expense account(s). Note: Enter debits before credits. Account Title Debit Credit Date Apr 30 Record entry Clear entry View general journal Requirement General Ledger > Requirement General Journal General Ledger Trial Balance Income Statement St of Retained Earnings Balance Sheet Post Closind Prepare the required journal entries, adjusting entries, and closing entries for Martin Travel. View transaction list Journal entry worksheet