Question 3 of 3 -13 Date Account Titles and Explanation Debit Credit Mar. 1 v Cash 50,000 Question 3 of 3 -13 (Paid salaries expense) (Paid creditor on account) Blossom's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March. Mar. Stockholders invested $57,500 cash in the business in exchange for common stock of the corporation. 3 Purchased Snead's Golf Land for $48,000 cash. The price consists of land $24,700, building $9,670, and equipment $13,630. (Record this in a single entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,280 cash. 6 Paid cash $3,000 for a 1-year insurance policy. 10 Purchased golf clubs and other equipment for $5,700 from Tahoe Company, payable in 30 days. 18 Received golf fees of $1,250 in cash from customers for golf services performed. 19 Sold 100 coupon books for $25 each in cash. Each book contains 10 coupons that enable the holder to play one round of miniature golf or to hit one bucket of golf balls. (Hint: The revenue should not be recognized until the customers use the coupons.) 25 Paid a $560 cash dividend. 30 Paid salaries of $740. 30 Paid Tahoe Company in full for equipment purchased on March 10. 31 Received $940 in cash from customers for golf services performed