Fuhremann Lawn Care Inc. was opened on August 1 by Joe Fuhremann. The following selected events and transactions occurred during August. Aug. 1 Invested $55,000 cash in the business in exchange for common stock. Purchased O'Brien's Tree Service for $38,000 cash. The price consists of land $20,000, building $15,000, and equipment $3,000. (Make one compound entry.) Advertised the opening of the business, paying advertising expenses of $1,600. Paid cash $1,480 for a one-year insurance policy. Purchased equipment for $2,500 from Gupta Company, payable in 30 days. Recelved fees for services of $1,200 in cash. Declared and paid a $700 cash dividend. Paid wages of $1,300 Paid Gupta Company in full. Received $850 of fees in cash. 3 6 10 18 25 30 30 31 Fuhremann uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salarie and Wages Expense. Journalize the August transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.)