Kingbird Inc was opened on August 1 by Joe Kingbird The following selected events and transactions occurred during Augs Aug 1 Irested $50,000 cash in the business in change for common stock 3 Purchased O Brien's Tree Service for $30,000 cash. The price consists of land $18,000, building $10,000, and equipment $2000 (Make one compound entry) 5 Acherticed the opening of the business, paying advertising expenses of $1,000. 6 Paid cash $1,200 for a one year ipsurance policy 10 Purchased equipment for $2000 From Blossom Company, payable in 30 days 18 Receved fees for services of $1,000 in cash 25 Declared and paid a S400 cash dividend. 30 Paid wages of $1,200 30 Paid Blossom Company in full 31 Received $500 of fees in cash. Kingbird uses the following accounts: Cash, Prepaid Insurance, Land Buildings, Equipment Accounts Payable. Common Stock Dividends Service Revenue Advertising Experie, and Salaries and Wages Expense bornalize the August transactions. Odit account attes are automatically Idented when anauntbenod Dondent al 1700 py is required select No Endry for the account bidhs and enter for de anumis Record and entries on ote anker presented in the Debit Credit