GLO305- Based on Problem 3-6A LO P1, P2, P3, P4, P5 On April 1, 2017, Greg Taylor created a new travel agency, Taylor Travel. The following transactions occurred during the company's first month Apr. 1 Taylor invested $43,000 cash and computer equipment worth $14,400 in the company in exchange for common stock Apr 2 The conpany rented furnished office space by paying $2,300 cash for the first month's (April) rent Apr. 3 The company purchased $2,290 of office supplies for cash Apr. 1e The company paid $3,600 cash for the premium on a 12-month insurance policy. Coverage begins an April 11 Apr. 14 The company paid $1,400 cash for two weeks' salaries carned by employees Apr. 24 The company collected $18,900 cash on commissions from airlines on tickets obtained for customers Apr. 28 The company paid $1,408 cash for two weeks' salaries earned by employees Apr. 29 The company paid $500 cash for minor repairs to the company's computer Apr. 3e The company paid $650 cash for this month' s telephone bill Apr. 3e The company paid $2,200 cash in dividends Information for month-end adjustments follows: a. Two-thirds (or $200) of one month's insurance coverage has expired. b. At the end of the month, $850 of office supplies are still available. c. This month's depreciation on the computer equipment is $240. d. Employees earned $560 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,780 of commissions that are not yet billed at month-end. General Trial Balance Statement Ledger Income St Retained Earnings Requirement General Balance Sheet Post Closing General Journal tab Prepare journal entries for Taylor Travel's first month of operations. Prepare any necessary adjusting and closing entries for the current month. General Ledger tab Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted, adjusted, or post-closing balances. Trial Balance tab You may view the unadjusted, adjusted, or post-closing trial balances by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs Income Statement tab- Use the drop-downs to select the accounts properly included on the income statement. The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection. Statement of Retained Earnings tab The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection. Balance Sheet tab - Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection Post-Closing tab-Use the drop-downs to indicate whether each account is included on the post-closing trial balance. TAYLOR TRAVEL Income Statement For Month Ended April 30, 2017 Revenues Expenses TAYLOR TRAVEL Balance Sheet April 30, 2017 ASSETS Current assets Plant assets: LIABILITIES AND EQUITY Current liabilities Equity