Adventure Miniature Golf and Driving Range Inc. opened on May 1. The following selected events and transactions occurred during May: May 1 Issued common shares for $126,000 cash. 4 Purchased Henry's Golf Land for $259,000. The price consists of land $118,000; buildings $100,000; and equipment $41,000. Paid cash of $70,000 and signed a mortgage payable for the balance. 4 Paid $1,320 for a one-year insurance policy; coverage begins next month. 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $700. 6 Purchased golf clubs and other equipment for $9,200 on account from Titleist Corporation. 18 Received $8,500 from customers for golf fees earned. 20 Declared and paid $400 of dividends to shareholders. 22 Received $1,200 from a school board that paid for students' golf lessons that will be given in June. 29 Paid Titleist in full for equipment purchased on May 6. 30 Paid $756 of interest on the mortgage payable. 30 Paid salaries of $3,100. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit