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Davis Disc Golf Course was opened on March 1. The following selected events and transactions occurred during March (amounts in thousands). Mar. 1 Lee Davis
Davis Disc Golf Course was opened on March 1. The following selected events and transactions occurred during March (amounts in thousands). Mar. 1 Lee Davis invested \19,100 cash in the business in exchange for ordinary shares. 3 Purchased Rainbow Golf Land for \15,300 cash. The price consists of land 12,400, building 42,100, and equipment 800. (Make one compound entry.) 5 Paid advertising expenses of 1,000. 6 Paid cash 500 for a one-year insurance policy. 10 Purchased golf discs and other equipment for 790 from Wang Company payable in 30 days. 18 Received 800 in cash for golf fees (Davis records golf fees as service revenue). 19 Sold 230 coupon books for 10 each. Each book contains 4 coupons that enable the holder to play one round of disc golf. 25 Declared and paid a 770 cash dividend. 30 Paid salaries of 300. 30 Paid Wang Company in full. 31 Received 2,300 cash for golf fees. Journalize the March transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Enter amounts in thousands.) Journalize the March transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter for the amounts. Enter amounts in thousands.) Date Account Titles and Explanation Debit Credit > > (Paid salaries) Paid creditor on account)
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