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Bradley's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March. Stockholders invested
Bradley's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March. Stockholders invested $ 55,500 cash in the business in exchange for common stock of the corporation Purchased Snead's Golf Land for $41,000 cash. The price consists of land $ 24,500, building $9,190, and equipment $ 7,310. (Record this in a single entry.) Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $2,470 cash. Paid cash $4,150 for a 1-year insurance policy. Purchased golf clubs and other equipment for $ 5,900 from Tahoe Company, payable in 30 days. Received golf fees of $2,800 in cash from customers for golf services performed. Sold 130 coupon books for $25 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.) Paid a $ 630 cash dividend. Paid salaries of $710. Paid Tahoe Company in full for equipment purchased on March 10. Received $ 830 in cash from customers for golf services performed. Mar. 1 3 5 6 10 18 19 25 30 30 31 Journalize the March transactions. Bradley's records golf fees as service revenue. (If no entry is required, select "No Entry"for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
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