Question

Holz Disc Gole Course was opened on March 1 by Ian Holz. The following selected events and transactions occurred during March.

Mar. 1 Invested $ 20,000 cash in the business.

3 Purchased Rainbow Goll Land for $ 15,000 cosh. The price consists of land $ 12,000, shed $ 2,000, and equipment $ 1,000. (Make one compound entry.)

5 Paid advertising expenses of $ 900.

6 Paid cash $ 600 for a one-year insurance policy.

10 Purchased golf discs and other equipment for $ 1,050 from Stevenixon Company payable in 30 days.

18 Received $ 1,100 in cash for golf fees (Holz records golf fees as service revenue).

19 Sold 150 coupon books for $ 10 each. Each book contains 4 coupons that enable the holder to play prie round of disc golf)

25 Withdrew $ 800 cash for personal use:

30 Paid satiric of $ 250.

30 Pad Steventon company in full

31 Received $ 2,700 cash for golf fees. 

Journalize the March transactions.

Answer 1