Transactions of a Company, Including Investment and Dividend Snyder Miniature Golf and Driving Range plc was opened on March 1 by Mickey Snyder. The following selected events and transactions occurred during March.

Mar. 1 Invested 60,000 cash in the business in exchange for ordinary shares.

3 Purchased Michelle Wies Golf Land for 58,000 cash. The price consists of land 30,000, building 22,000, and equipment 6,000. (Make one compound entry.)

5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of 1,600.

6 Paid cash 1,480 for a 1-year insurance policy.

10 Purchased golf equipment for 2,500 from Young Company, payable in 30 days.

18 Received golf fees of 1,200 in cash.

25 Declared and paid a 1,000 cash dividend.

30 Paid salaries and wages of 900.

30 Paid Young Company in full.

31 Received 750 of fees in cash.

31 Sale of Land 25,000 (that cost 10,000)

Snyder uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Share CapitalOrdinary, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense, Gain on sale of Land.

Instructions Journalize the March transactions. (Provide explanations for the journal entries.)