Wiew Policies Current Attempt in Progress The Arid Sands Golf Club was opened for business on 1 July by Todd Simpson. The following selected events and transactions occurred during the first month of operations. July 1 3 6 10 18 The owner invested $2 500 000 cash into the business. Acquired the business of Jeffrey's Golf World for $1800 000 cash. The price consisted of land $1000 000, building $650 000, and equipment $150 000. Advertised the opening of the golf course, paying advertising expenses of $36000 for a major television campaign. Paid cash $3600 for a 1-year insurance policy. Purchased new golfing equipment for $60 000 from Rory Golfing payable in 30 days. Received golf membership fees of $22000 in cash. Sold 200 coupon books for $400 each. Every book contains 10 coupons each of which entitles the holder to one round of golf. Simpson withdrew $10 000 cash for personal use. Pald wages of $12 600 Paid Rory Golfing in full 19 25 27 29 30 31 Received $12000 cash for golf fees Required Prepare general journal entries for the month of July, using appropriate account titles. Assume that a GST of 10% needs to be added for all appropriate transactions. Date Particulars Debit Credit July 1 Cash contributed by owner. Tetus tout du Prepare general journal entries for the month of July, using appropriate counte. Assume that for all appropriate transactions. Date Particulars Debit Credit July 1 Cash contributed by owner. 3 Jeffrey's Golf World acquired for cash 6 Cash paid for advertising 10 Cash paid for 1 year insurance policy. 18 Purchase of golfing equipment from Rory Golfing. 19 Cash received for fees 25 II UTILE Cash received on sale of 200 coupon books for $400 each 27 Cash withdrawn by owner 29 Cash paid tor wages 30 Cash to Rory Golfing 31 IN Cash received for golf fees Save for Later Attempts: 0 of 2 used Submit Answ