VA About VA Social Welfar x Ch 02 HW-BX Chapter 3 hom x Sign In or Sig X J Paused ads/S21Chapter02Homework.pdf 2/2 100% Question 4) Happy's RV Park was started on April 1 by Happy Gilmore. These selected events and transactions occurred during April. Stockholders invested $100,000 cash in the business in exchange for common stock. Purchased land costing $250,000 for cash. Purchased advertising in local newspaper for $1,200 on account. Paid salaries to employees $3,000. April: 1 4 8 11 12 13 17 Paid $600 cash dividends. 20 25 30 Hired park manager at a salary of $3,600 per month, effective May 1. Paid $7,200 for a 1-year insurance policy. Received $6,000 in cash from customers for admission fees. 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 coupons are used.). Received $7,900 in cash from customers for admission fees. Paid $400 of the balance owed for the advertising purchased on account on April 8. The company uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Service Revenue, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries Expense. Instructions: Journalize the April transactions. MacBook Pro