RV Oasis was started on April 1 by Taras Dankert. These selected events and transactions occurred during April.

The company uses the following accounts: Cash, Prepaid Insurance, Supplies, Land, Accounts Payable, Unearned Service Revenue, Notes Payable, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense.

Instructions

Journalize the April transactions. RV Oasis records admission fees as service revenue. For EACH transaction, DEBITS MUST be recorded first followed by the credit (which is indented). As an example, the first transaction is recorded for you:

April 1 2 4 8 11 12 13 14 17 20 23 Stockholders invested $40,000 cash in the business in exchange for common stock. Borrowed $160,000 from Bank of Non-Cents. Purchased land costing $150,000 for cash. Purchased advertising in local newspaper for $2,200 on account. Paid salaries to employees of $5,700. Hired park manager at a salary of $3,600 per month effective May 1. Paid $14,200 for a 1-year insurance policy. Purchased $550 worth of supplies for cash. Paid $600 cash dividends. Received $6.000 in cash from customers for admission fees. Purchased $1,000 worth of supplies on account from Supplies Depot. Sold 100 coupon books for $90 each. Each book contains ten coupons that entitle the holder to one admission to the park. (Hint: The revenue should not be recognized until the coup ons are used.) Received $9,900 in cash from customers for admission fees. Paid $400 of the balance owed for the advertising purchased on account on April 8. Paid $1,000 of the balance owed to Supplies Depot for the supplies purchased on account on April 23. 25 30 30 30 Date Description Debit Credit April 1 Cash $ 40,000 Common Stock $ 40,000 Date Description Debit Credit Date Description Debit Credit