Wildhorse Miniature Golf and Driving Range Inc. was opened on March 1 by Michael Wear. These selected events and transactions occurred during March. Mar. 1 Shareholders invested $47,500 cash in the business in exchange for common shares of the corporation. 3 Purchased Arnie's Golf Land for $38,800 cash. The price consists of land $24,500, building $8,300, and equipment $6,000. 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,400 cash. 6 Paid cash $2,400 for a 1-year insurance policy. 10 Purchased golf clubs and other equipment for $4,500 from Golden Bear Company, payable in 30 days. 18 Received golf fees of $1,100 in cash from customers for golf fees earned. 19 Sold 110 coupon books for $27 each in cash. Each book contains ten coupons that enable the holder to play one round of miniature golf or to hit one bucket of golf balls. (Hint: The revenue is not earned until the customers use the coupons.) 25 Declared and paid a $490 cash dividend. 30 Paid salaries of $680. 30 Paid Golden Bear Company in full for equipment purchased on March 10. 31 Received $790 in cash from customers for golf fees earned. 31 Paid estimated income taxes for the month amounting to $90. The company uses these accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Unearned Revenue, Common Shares, Retained Earnings, Dividends Declared, Service Revenue, Advertising Expense, Salaries Expense, and Income Tax Expense. Prepare journal entries to record the March transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Mar. 3 (To record payment of salaries) (To record payment of equipment purchased) (To record cash received from customers) (To reocord payment of income tax)