Problem 3-5A Applying the accounting cycle LO P1, P2, P3, P4, P5, P6, P7, P8 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 $37,000 cash and computer equipment worth $25,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,600 cash for the first month's (April) rent. 3 The company purchased $1,300 of office supplies for cash. 10 The company paid $2,000 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $1, 700 cash for two weeks' salaries earned by employees. 24 The company collected $13, 500 cash for commissions earned. 28 The company paid $1, 700 cash for two weeks' salaries earned by employees. 29 The company paid $500 cash for minor repairs to the company's computer. 30 The company paid $1, 200 cash for this month's telephone bill. 30 The company paid $1, 700 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 Equip. 209 Salaries Payable 307 Common Stock- 318 Retained Earnings: 405 Commissions Earned 612 Depreciation Expense-Computer Equip. 622 Salaries Expense 637 Insurance Expense 648 Rent Expense 650 office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary 319 Dividends Use the following information: