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Windsor Club Miniature Golf and Driving Range was opened on May 1. The following events and transactions are for May: May 1 Amin Mawani, the
Windsor Club Miniature Golf and Driving Range was opened on May 1. The following events and transactions are for May: May 1 Amin Mawani, the owner, invested $ 77,300 cash in the business. 2 Purchased Lee's Golf Land for $261,000. The price consists of land, $ 129,000; building, $ 88,000; and equipment, $ 44,000. Paid $ 50,500 cash and signed a note payable for the balance. 4. Purchased golf clubs and other equipment for $ 17,600 from Woods Company on account. 5 Hired a golf pro to teach lessons at the golf range at a rate of $ 35 per hour. 6 Paid $ 2,960 cash for a one-year insurance policy. 15 Collected $2,330 of golf fees in cash from customers for services provided. 19 Paid Woods Company $4,400 for the items purchased on May 4. 20 Billed a customer, Deer Fern Inc., $ 1,600 for golf lessons provided. Deer Fern Inc. paid $ 240 and agreed to pay the remaining amount owing in 10 days. 30 Received $ 1,360 from Deer Fern Inc. for the May 20 transaction. 31 Collected $3,170 cash from golfing customers for golf services provided. 31 Paid salaries of $ 2,620. 31 Paid $ 765 of interest on the note payable. 31 Paid Amin Mawani $ 1,730 for his personal use. Date Account Titles and Explanation Debit Credit (To record services performed for cash.) (To record employee salaries paid.) (To record interest paid on note payable.) (To record cash withdrawn for personal use.)
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