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100 points eBook Print References Check my work Check My Work button is now enabledItem 1 Item 1 100 points Item Skipped On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company’s first month. April 1 Nozomi invested $31,000 cash and computer equipment worth $35,000 in the company. 2 The company rented furnished office space by paying $1,500 cash for the first month’s (April) rent. 3 The company purchased $1,300 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 11. 14 The company paid $1,300 cash for two weeks' salaries earned by employees. 24 The company collected $19,500 cash on commissions from airlines on tickets obtained for customers. 28 The company paid $1,300 cash for two weeks' salaries earned by employees. 29 The company paid $300 cash for minor repairs to the company's computer. 30 The company paid $1,450 cash for this month's telephone bill. 30 Nozomi withdrew $2,100 cash from the company for personal use.

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Journal entry :

Date accounts & explanation debit credit Apr 1 Cash 31000 Equipment 35000     Owner's equity 66000 Apr 1 Prepaid rent 1500     Cash 1500 Apr 3 Office supplies 1300     Cash 1300 Apr 10 Prepaid insurance 2600      Cash 2600 Apr 14 Salary expense 1300     Cash 1300 Apr 24 Cash 19500     Service revenue 19500 Apr 28 Salary expense 1300     Cash 1300 Apr 29 Repairs and maintenance expense 300     Cash 300 Apr 30 Telephone bill expense 1450     Cash 1450 Apr 30 Owner's drawing 2100     Cash 2100

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