Problem 4-1A Applying the accounting cycle LO C2, P2, P3 On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the compa month. 3 ok April 1 Nozomi invested $49,000 cash and computer equipment worth $25,000 in the company. 2 The company rented furnished office space by paying $3,000 cash for the first month's (April) rent. 3 The company purchased $1,500 of office supplies for cash. 10 The company paid $2,600 cash for the premium on a 12-month insurance policy. Coverage begins on April 1 14 The company paid $900 cash for two weeks' salaries earned by employees. 24 The company collected $10,500 cash for commissions earned. 28 The company paid $900 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 $1,250 cash for this month's telephone bill. 30 Nozomi withdrew $2,300 cash from the company for personal use. The company's chart of accounts follows: ences 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salaries Payable 301 J. Nonomi, Capital 302 J. Nozomi, withdrawals 405 Commissions Earned 612 Depreciation Expense-Computer Equip. 622 salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary Use the following information: a. Prepaid insurance of $144 has expired this month. b. At the end of the month, $700 of office supplies are still available c. This month's depreciation on the computer equipment is $300. d. Employees earned $390 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,700 of commissions that are not yet billed at month-end. 1