LD Driving Range Inc. was opened on March 1 by Phil Woods. The following selected events and transactions occurred during March:

Woods uses the following accounts for his company: Cash; Prepaid Insurance; Prepaid Rent; Land; Buildings;
Equipment; Accounts Payable; Unearned Revenue; Common Shares; Dividends; Service Revenue; Advertising
Expense; Rent Expense; and Salaries and Wages Expense.
Instructions
(a) Journalize the March transactions.
(b) Identify any adjusting entries that should be recorded before preparing financial statements for the month of March.

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March Invested $80,000 cash in the business in exchange for common shares. 3 Purchased Mickey Mickelson's Golf Land for $70,500 cash. The price consists of $2,500 for March rent that was already paid; land, $20,000; building, $32,000; and equipment, $16,000. 5 LD sponsored and paid for an open house costing $6,800 6 Paid $2,400 cash for a one-year insurance policy. 10 Purchased golf equipment for $5,500 from VJ Ltd., payable in 30 days. 18 Earned fees of $3,700, which were billed on account. 25 Declared and paid a $1,500 cash dividend. 30 Incurred and paid salaries and wages expense of $1,900 30 Paid rent for the month of April in the amount of $2,500. 31 Received fees of $750 related to a golf tournament that will take place in Api