Wildhorse Miniature Golf and Driving Range Inc. was opened on March 1 by Scott Verplank. The following selected events and transactions occurred during March. Mar. Invested $48,000 cash in the business in exchange for common stock. 1 3 Purchased Michelle Wie's Golf Land for $38,510 cash. The price consists of land $10,520, building $21,530, and equipment $6,460. (Make one compound entry) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,669. 6 Paid cash $1,354 for a one-year insurance policy. 10 Purchased golf equipment for $2,350 from Singh Company, payable in 30 days. 18 Received golf fees of $1,216 in cash. 25 Declared and paid a $520 cash dividend. 30 Paid wages of $904. 30 Paid Singh Company in full. 31 Received $694 of fees in cash