P2-1B Surepar Miniature Golf and Driving Range was opened on March 1 by Jerry Glover.

The following selected events and transactions occurred during March.

Mar. 1 Invested $50,000 cash in the business in exchange for common stock.

3 Purchased Lee’s Golf Land for $38,000 cash. The price consists of land $23,000, build¬

ing $9,000, and equipment $6,000. (Make one compound entry.)