View Policies Current Attempt in Progress Pharoah Park was started on April 1 by R. S. Francis and associates. The following selected events and transactions occurred during April Apr. 1 4 8 11 12 Stockholders invested $51,100 cash in the business in exchange for common stock. Purchased land costing $30,000 for cash. Incurred advertising expense of $1.830 on account Paid salaries to employees $2.000 Hired park manager at a salary of $3,800 per month effective May 1. Pald $1,300 cash for a one-year insurance policy. Declared and paid a $1,580 cash dividend. Received $5,700 in cash for admission fees. Sold 185 coupon books for $33 each. Each book contains 10 coupons that entitle the holder to one admission to the park. Received $9.900 in cash admission fees. Paid $580 on balance owed for advertising incurred on April 8. 17 20 25 30 30 Pharoah uses the following accounts: Cash, Prepaid Insurance Land Accounts Payable. Unearned Service Revenue, Common Stock Dividends Service Revenue, Advertising Expense, and Salaries and Wages Expense. Date Account Titles and Explanation Debit Credit Apr. 1 Apr. 4 Apr. 8 Apr. 11 Apr. 12 Apr 13 Apr. 17 Apr. 20 Apr. 25 Apr 30 (Received cash for services provided) (Paid creditor on account) List of Accounts Accounts Payable Accounts Receivable Advertising Expense Buildings Cash Common Stock Dividends Equipment Gasoline Expense Insurance Expense Land Maintenance and Repairs Expense Miscellaneous Expense Mortgage Payable LanvUS LAPU Mortgage Payable No Entry Notes Payable Prepaid Insurance Prepaid Rent Rent Expense Rent Revenue Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Service Revenue Supplies Supplies Expense Unearned Service Revenue Utilities Expense