DB 3.1 Regular Transactional Entries - Pam Penny opened Penny's Miniature Golf and Driving Range Inc. on June 1. The following selected events and transactions occurred during June. 3 June 1 Invested $68,500 cash in the business in exchange for common stock. Purchased Mary Carlson's Golf Land for $52,500 cash. The price consists of land $15,500; building $27,500; and equipment $9,500. (Make one compound entry for this transaction.) 4 Purchased golf equipment for $3,375 from Goldstein Company, payable in 30 days. 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $3,000. 8 Paid cash $1,620 for a one-year insurance policy. 12 Received golf fees of $800 in cash. 25 Declared and paid a $150 cash dividend. 30 Paid Goldstein Company in full. 30 Received $1,700 of fees in cash. 30 Paid wages of $1,225. Required: Record the journal entry for each transaction in the general journal. You can simply create your own version of the general journal in Word, Excel, or similar. Also, you can omit explanations for your journal entries unless you choose to include them. [Note: In this problem, be sure to prepare journal entries (i.e., in journal entry form) and not simply T-accounts --- even though you might use T-accounts to help you analyze some of these transactions. Page 10 of Chapter 3 in the textbook (and elsewhere in Ch. 3) provides an illustration of the form you should follow for your journal entries, but again, you can omit the explanations for your entries.] MacBook Pro