Adventure Crane Golf and Driving Pina Colada Inc. opened on May 1. The following selected events and transactions occurred during May May 1 4 4 6 Issued common shares for $129,000 cash. Purchased Henry's Golf Land for $270,000. The price consists of land $124.000; buildings $101.000; and equipment $45,000. Paid cash of $101.000 and signed a mortgage payable for the balance. Paid $1.500 for a one-year insurance policy, coverage begins next month. Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $800. Purchased equipment for $8.100 on account. Received $8.500 from customers for golf fees earned. (Hint Use the account Fees Earned torecord golf fees) Declared and paid $1,000 of dividends to shareholders. Received 51.400 from a school board that paid for students' golf lessons that will be given in June, Paid for the equipment purchased on May 6, Paid $800 of interest on the mortgage payable. Paid salaries of $3.300. 18 88% 8 au 22 29