sc Golf Course was opened on March 1 by Brothers Holz. The following selected events and transactions occurred during Invested $21,000 cash in the business. Purchased Rainbow Golf Land for $14,000 cash. The price consists of land $10,500, shed $2,100, and equipment $ (Make one compound entry.) Paid advertising expenses of $600. Paid cash $680 for a one-year insurance policy. Purchased golf discs and other equipment for $1,200 from Stevenson Company payable in 30 days. Received $1,200 in cash for golf fees (Holz records golf fees as service revenue). Sold 100 coupon books for $20 each. Each book contains 4 coupons that enable the holder to play one round of Withdrew $700 cash for personal use. Paid salaries of $300.