Record the entry to close the expense account(s).

Extracted text: Record the entry to close the expense account(s).


Extracted text: On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the month. 1 Nozomi invested $30,000 cash and computer equipment worth $20,000 in the company. 2 The company rented furnished office space by paying $1,800 cash for the first month's (April) ren 3 The company purchased $1,000 of office supplies for cash. Apr. Apr. Apr. Apr. 10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on A Apr. 14 The company paid $1,600 cash for two weeks' salaries earned by employees. Apr. 24 The company collected $8,000 cash for commissions earned. Apr. 28 The company paid $1,600 cash for two weeks' salaries earned by employees. Apr. 29 The company paid $350 cash for minor repairs to the company's computer. Apr. 30 The company paid $750 cash for this month's telephone bill. Apr. 30 Nozomi withdrew $1,500 cash from the company for personal use. Information for month-end adjustments follows: a. Prepaid insurance of $133 has expired this month. b. At the end of the month, $600 of office supplies are still available. c. This month's depreciation on the computer equipment is $500. d. Employees earned $420 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,750 of commissions that are not yet billed at month-end.