Prairie Park ASA was started on April 1 by F. L. Wright and associates. The following selected events and transactions occurred during April.
Apr. 1 Shareholders invested €50,000 cash in the business in exchange for ordinary shares.
4 Purchased land costing €34,000 for cash.
8 Incurred advertising expense of €1,800 on account.
11 Paid salaries to employees €1,500.
12 Hired park manager at a salary of €4,000 per month, effective May 1.
13 Paid €1,500 cash for a one-year insurance policy.
17 Declared and paid a €1,400 cash dividend.
20 Received €6,400 in cash for admission fees.
25 Sold 100 coupon books for €30 each. Each book contains 10 coupons that entitle the holder to one admission to the park.
30 Received €8,500 in cash admission fees.
30 Paid €900 on balance owed for advertising incurred on April 8.
Prairie Park uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Service Revenue, Share Capital-Ordinary, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense.
Instructions
Journalize the April transactions.