OnDecember1,2015JohnTrapcreatedanewtravelagency,TrapAdventures,Inc.providingexclusiveadventuretrips.ThefollowingtransactionsoccurredduringDecember...
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On December 1, 2015 John Trap created a new travel agency, Trap Adventures, Inc. providing exclusive

 adventure trips.  The following transactions occurred during December 2015.

(NOTE: There are no beginning balances - this is a new company.)

Dec 1 John Trap invested $60,000 cash in the company for common stock.

2 Purchase office equipment for $17,500 cash.

2 The company rented furnished office space by paying $18,000 cash for the first six months (December 2015 ­ May 2016) rent.

3 The company purchased $1,500 of office supplies on account.

10 The company paid $3,600 cash for the premium on a 12­month insurance policy.

14 The company paid $10,750 cash for two weeks' salaries earned by employees.

24 The company collected $54,000 cash on commissions from airlines on tickets obtained for customers.

28 The company paid $12,125 cash for two weeks' salaries earned by employees.

29 The company paid $350 cash for minor repairs to the company's computer.

30 The company paid $450 cash for this month's telephone bill.

30 Dividends of $3,000 cash were paid.

Final Project Requirements

Using the spreadsheet found here and information above, complete the following:

Adjustment Data:

One month's insurance coverage has expired. The company occupied the office space for the month of December. At the end of the month, $600 of office supplies are still available.

1. Create journal entries to record the transactions that occurred during the month of December. 

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