Question

Windsor Miniature Golf and Driving Range Inc. was opened on March 1 by Scott Verplank. The following selected events and transactions occurred during March. Mar. 1 Invested $50,600 cash in the business in exchange for common stock. 3 Purchased Michelle Wie's Golf Land for $39,010 cash. The price consists of land $9,700, building $22,860, and equipment $6,450. (Make one compound entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,636. 6 Paid cash $1,425 for a one-year insurance policy. 10 Purchased golf equipment for $2,460 from Singh Company, payable in 30 days. 18 Received golf fees of $1,286 in cash. 25 Declared and paid a $550 cash dividend. 30 Paid wages of $833. 30 Paid Singh Company in full. 31 Received $782 of fees in cash. Windsor uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense. Journalize the March transactions. (Use Service Revenue account to record fees.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.)
there are ten entries

Answer 1

		Debit	Credit
Mar 1	Cash	50600
	Common stock		50600
Mar 3	Land	9700
	Buildings	22860
	Equipment	6450
	Cash		39010
Mar 5	Advertising expense	1636
	Cash		1636
Mar 6	Prepaid insurance	1425
	Cash		1425
Mar 10	Equipment	2460
	Accounts payable		2460
Mar 18	Cash	1286
	Service revenue		1286
Mar 25	Dividends	550
	Cash		550
Mar 30	Salaries and wages expense	833
	Cash		833
Mar 30	Accounts payable	2460
	Cash		2460
Mar 31	Cash	782
	Service revenue		782