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.