On April $1,2023,$ XZA transactions occiated Rocket Travel, a new the company's firsl agency. The following transactions occurred during the company's first month.

Apr. $1-$ Issue stock in exchange for $$100,000$ cash.

Apr. $1-$ Borrowed $$50,000$ from a local bank and signed a note. Principal and interest at $10\%$ is to be repaid in one year.

Apr. $1-$ The company paid $$2,400$ cash for a $12-$month insurance policy. Coverage begins on April.

April $1-$ The company rented furniahed office space by paying $$1,800$ cash for the first month $($April$)$ rent and paid four months in advance.

April $4-$ Purchase computer equipment for $$7,000$ and other equipment for $$8,000$ on account.

April $4-$ The company purchased $$1,000$ in office supplies for cash.

April $14-$ The company paid $$4,500$ cash for two weeks' salaries earned by employees.

April $24-$ The company collected $$35,000$ cash for commission revenue.

April $28-$ The company paid $$4,500$ cash for two weeks' salaries eared by employees.

April $29-$ The company paid $$500$ cash for minor repairs to computer equipment moutrane.

April $30-$ The company paid $$750$ cash for this month's utilities bill.

April $30-$ Paid shareholders a cash dividend of $$10,000.$

Instructions

Prepare journal entries to record the transactions for April.

Post journal entries to the general ledger accounts.

Prepare a trial balance as of April $30.$

Use the following information to prepare the adjusting entries for the month.

a$.$ Insurance of $$200$ expired this month.

b$.$ At the end of the month, $$600$ of office supplies are still available.

c$.$ This month's depreciation for equipment is $$300.$

d$.$ Employees earned $$450$ of unpaid and unrecorded salaries as of month$-$end.

e$.$ The company earned $$10,000$ of commission revenue not yet recorded at month$-$end.

f$.$ Borrowed $$50,000$ from a local bank and signed a note. Principal and interest at $10\%$ is to be repaid in one year.

Post adjusting entries to the general ledger accounts.

Prepare the adjusted trial balance as of April $30.$

Prepare the income statement for the month ended April $30,2023,$ and the balance sheet at April $30,2023.$

Prepare closing entries.

Post closing entries to the General ledger accounts.

Prepare a post$-$closing trial balance.