Problem 3-7A Applying the accounting cycle L.O. P1, P2, P3, P4, P5

[The following information applies to the questions displayed below.]

On April 1, 2011, Jennifer Stafford created a new travel agency, See-It-Now Travel. The following transactions occurred during the company%u2019s first month.

April 1	Stafford invested $49,000 cash and computer equipment worth $20,000 in the company in exchange for common stock.
2	The company rented furnished office space by paying $1,900 cash for the first month%u2019s (April) rent.
3	The company purchased $1,100 of office supplies for cash.
10	The company paid $2,800 cash for the premium on a 12-month insurance policy. Coverage begins on April 11.
14	The company paid $900 cash for two weeks' salaries earned by employees.
24	The company collected $9,500 cash on commissions from airlines on tickets obtained for customers.
28	The company paid $900 cash for two weeks' salaries earned by employees.
29	The company paid $250 cash for minor repairs to the company's computer.
30	The company paid $1,300 cash for this month's telephone bill.
30	The company paid $2,100 cash for dividends.