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Fix the red boxes with the correct terms and numbers Wildhorse Park was started on April 1 by R. S. Francis and associates. The following
Fix the red boxes with the correct terms and numbers
Wildhorse Park was started on April 1 by R. S. Francis and associates. The following selected events and transactions occurred during April Apr. 1 4 8 11 12 13 Stockholders invested $51,700 cash in the business in exchange for common stock. Purchased land costing $29,200 for cash. Incurred advertising expense of $1,590 on account. Paid salaries to employees $1,620. Hired park manager at a salary of $3,100 per month, effective May 1. Paid $1,350 cash for a one-year insurance policy. Declared and paid a $1,620 cash dividend. Received $6,300 in cash for admission fees. Sold 112 coupon books for $43 each. Each book contains 10 coupons that entitle the holder to one admission to the park. Received $8,400 in cash admission fees. Paid $830 on balance owed for advertising incurred on April 8. 17 20 25 30 30 Wildhorse uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Service Revenue, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense. Journalize the April transactions. (Credit account titles are automatically indented when the 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.) Date Account Titles and Explanation Debit Credit Apr. 1 Cash 51700 Common Stock 51700 Apr. 4 Land 29200 Cash 29200 Apr. 8 Advertising Expense 1590 Service Revenue 1590 Apr. 11 Salaries and Wages Expense 1620 Cash 1620 Apr. 12 Salaries and Wages Payable 3100 Unearned Service Revenue 3100Step by Step Solution
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