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Holz Disc Golf Course was opened on March 1 by lan Holz. The following selected events and transactions occurred during March. Mar. 1 Invested $20,000
Holz Disc Golf Course was opened on March 1 by lan Holz. The following selected events and transactions occurred during March. Mar. 1 Invested $20,000 cash in the business. 5 Paid advertising expenses of $900. 6 Paid cash $600 for one-year insurance policy. 10 Purchased golf discs and other equipment for $1,050 from Stevenson Company payable in 30 days. 18 Received $1,100 in cash for golf fees (Holz records golf fees as service revenue). 25 25 Withdrew $800 cash for personal use. 30 Paid salaries of $250. 30 Paid Stevenson Company in full. 31 Received $2,700 cash for golf fees. Holz Disc Golf uses the following accounts: Cash, Prepaid Insurance, Equipment, Accounts Payable, Owner's Capital, Owner's Drawings, Service Revenue, Advertising Expense, Insurance Expense, and Salaries and Wages Expense. Journalize the March transactions. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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