Ayayais Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March. Mar. 1 Stockholders invested $ 50,000 cash in the business in exchange for common stock of the corporation. 3 Purchased Sneads Golf Land for $ 38,000 cash. The price consists of land $ 22,000, building $ 8,000, and equipment $ 8,000. (Record this in a single entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $ 1,000 cash. 6 Paid cash $ 2,000 for a 1-year insurance policy. 10 Purchased golf clubs and other equipment for $ 4,500 from Tahoe Company, payable in 30 days. 18 Received golf fees of $ 1,000 in cash from customers for golf services performed. 19 Sold 100 coupon books for $ 10 each in cash. Each book contains 10 coupons that enable the holder to play one round of miniature golf or to hit one bucket of golf balls. (Hint: The revenue should not be recognized until the customers use the coupons.) 25 Paid a $ 400 cash dividend. 30 Paid salaries of $ 700. 30 Paid Tahoe Company in full for equipment purchased on March 10. 31 Received $ 800 in cash from customers for golf services performed.