Question

Bradley's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March. Mar 1 Stockholders invested $59,500 cash in the business in exchange for common stock of the corporation. 3 Purchased Snead's Golf Land for $47,100 cash. The price consists of land $25,000, building $9,300, and equipment $12,800. (Record this in a single entry.) Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $2,200 cash. 5 6 10 18 19 Paid cash $3,150 for a 1-year insurance policy Purchased golf clubs and other equipment for $5,400 from Tahoe Company, payable in 30 days. Received golf fees of $1,000 in cash from customers for golf services performed Sold 115 coupon books for $30 each in cash. Each book contains 10 coupons that enable the holder to play one round of miniature golf or to hit one bucket of golf balls. (Hint: The revenue should not be recognized until the customers use the coupons.) 25 Paid a $460 cash dividend. 30 Paid salaries of $750. 30 Paid Tahoe Company in full for equipment purchased on March 10 31 Received $800 in cash from customers for golf services performed. Journalize the March transactions. Bradley's records golf fees as service revenue. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Mar. 3

Answer 1

Following are the journal entries of Bradley's miniatures golf and driving Range .Inc

Journal Entries Date ParticularS Debit Credil Mar 1 Cash Account---DY 5 o Common Stock 59500 May 3 ccount-. br 2 5000 Building A ccoumt 9300 Еди1pment Account-br | 1280D Cosh 41100 Mar5 Ad vertising Expense - by 2200 To Cash AC(ount 2200 Mar G repaid InSuTance Alc-D 3150 To Cash alc olF club Equipment al-dr 5400 Ma Mar 13 To Accounts payable alc ToRevenues To Unear ned Kevenue 5400 Looo Cash alc İOOD 3 450 Cash alc_ . . Retained EarniDr 460 Salaries alc - DY Ac count payable alk-5400 Cash alcbr 3450 May.25 To Cash alc 460 750 To Cash To Cash To ReVenue MaY.3D MaY.31 8o0 goo