Current Attempt in Progress Oriole Miniature Golf and Driving Range Inc. was opened on March 1 by Michael Wear. These selected events and transactions occurred during March Mar, 1 3 5 6 10 Shareholders invested $44,000 cash in the business in exchange for common shares of the corporation Purchased Arnie's Golf Land for $33,440 cash. The price consists of land $20,240, building $7.920, and equipment $5,280 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,400 cash. Paid cash $2,120 for a 1-year insurance policy. Purchased golf clubs and other equipment for $4,160 from Golden Bear Company, payable in 30 days, Received golf fees of $1,040 in cash from customers for golf fees earned. Sold 88 coupon books for $25 each in cash. Each book contains ten coupons that enable the holder to play one round of miniature golf or to hit one bucket of golf balls. (Hint: The revenue is not earned until the customers use the coupons.) Declared and paid a $440 cash dividend. Paid salaries of $600. 18 19 25 30 30 Paid Golden Bear Company in full for equipment purchased on March 10. Received $720 in cash from customers for golf fees earned. 31 31 Paid estimated income taxes for the month amounting to $88. Prepare journal entries to record the March 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. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Debit Credit Date Account Titles and Explanation Mar. 1 Mar. 3 Mar. 5 Mar. 6 Mar. 10 Mar. 18 Mar. 19 Mar. 25 Mar. 30 Mar. 31 Question 3 of 3 > - /26 (To record payment of salaries) (To record payment of equipment purchased) (To record cash received from customers) (To reocard payment of income tax) List of Accounts Attempts: 0 of 3 used Submit Answer Save for later