TILO 2) AP Bucket Club Miniature Golf and Driving Range was opened events and transactions are for May: Club Miniature Golf and Driving Range was opened on May 1. The following Journalize May 1 Amin Mawani, the owner, invested $73,800 cash in the business. Amin May 2 Purchased Lee's Golf Land for $251,900. sed Lee's Golf Land for $251.900. The price consists of land $108,500, building $84,300. and $4,300, and equipment $59.100. Paid $60.300 cash and signed a note payable for the balance. Furchased golf clubs and other equipment for $17.000 from Woods Company on account. hired a golf pro to teach lessons at the golf range at a rate of $40 per hour. 6 Paid $2,580 cash for a one-year insurance policy. 15 Collected $1,830 of golf fees in cash from customers for services provided. Paid Woods Company $5,480 for the items purchased on May 4. 20 Billed a customer, Deer Fern Inc., $500 for golf lessons provided. Deer Fern Inc. paid $250 and agreed to pay the remaining amount owing in 10 days. Received $250 from Deer Fern Inc. for the May 20 transaction. 31 Collected $3,100 cash from golfing customers for golf services provided 31 Paid salaries of $2,220. 31 Paid $710 of interest on the note payable. 31 Paid Amin Mawani $1,540 for his personal use. 19 The company's chart of accounts includes the following accounts: Cash; Accounts Receivable; Pre- paid Insurance; Land; Buildings: Equipment; Accounts Payable; Notes Payable; A. Mawani, Capital; A. Mawani, Drawings; Service Revenue; Salaries Expense; and Interest Expense. Instructions Journalize the May transactions. Taking It Further After Amin has reviewed the journal entries, he complains that they don't seem to be very useful. Explain to Amin the purpose of the journal entries. sinne for I Green, a sole proprietorship