Problem 2-1A

Pearl Industries was started on April 1 by F. L. Wright and associates. The following selected events and transactions occurred during April.

Apr. 1Shareholders invested 49,466 cash in the business in exchange for ordinary shares.

4Purchased land costing 29,257 for cash.

8Incurred advertising expense of 1,619 on account.

11Paid salaries to employees 1,243.

12Hired park manager at a salary of 4,289 per month, effective May 1.

1 3Paid 1,536 cash for a one-year insurance policy.

17Declared and paid a 1,643 cash dividend.

20Received 5,997 in cash for admission fees.

25Sold180 coupon books for 60 each. Each book contains 10 coupons that entitle the holder to one admission to the park.

30Received 8,888 in cash admission fees.

30Paid 738 on balance owed for advertising incurred on April 8.

Pearl Industries uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Service Revenue, Share CapitalOrdinary, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense.

Journalize the April transactions.