Question

Holz Disc Golf Course was opened on March 1 by Colada Holz. The following selected events and transact March. Mar. 1 3 5 6 10 18 19 Invested $20,000 cash in the business. Purchased Rainbow Golf Land for $14,000 cash. The price consists of land $10,500, shed $2,100, and equipment $1,400. (Make one compound entry) Paid advertising expenses of $700. Paid cash $590 for a one-year insurance policy. Purchased golf discs and other equipment for $1.200 from Stevenson Company payable in 30 days. Received $1,100 in cash for golf fees (Holz records golf fees as service revenue), Sold 200 coupon books for $20 each. Each book contains 4 coupons that enable the holder to play one round of disc golt Withdrew $700 cash for personal use. Paid salaries of $400 Paid Stevenson Company in full. Received $1,800 cash for golf fees. 25 30 30 31 Journalize the March transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter for the amounts.)

Answer 1

Credit Debit $ 20,000.00 $ 20,000.00 $ 10,500.00 $ 2,100.00 $ 1,400.00 $14,000.00 $ 700.00 $ 0.00 $ 590.00 $ 590.00 $ 1,200.00 $ 1,200.00 Date Account titles & Explanations Mar-01 Cash Owner's capital (Invested cash in business) Mar-03 Land Shed Equipment Cash (Purchased Land, Shed and Equipment) Mar-05 Advertisment expense Cash (Paid cash for advertisment expense) Mar-06 Prepaid insurance Cash (paid cash for 1 year insurance) Mar-10 Equipment Accounts Payable (Purchased Equipment from stevenson company payable) Mar-18 Cash Service revenue (Received cash for Golf fees) Mar-19 Cash Unearned service revenue (Sold Coupon in cash 200*20) Mar-25 Owner's Drawings Cash (Withdraw cash for personal use) Mar-30 Salaries Expense Cash (Paid cash for salaries expense) Mar-30 Accounts Payable Cash (Paid creditors on account) Mar-31 Cash Service revenue (Received cash for Golf fees) $ 1,100.00 $ 1,100.00 $ 4,000.00 $ 4,000.00 $ $ 700.00 $ 700.00 $ $ 400.00 $ 400.00 $ 1,200.00 $ 1,200.00 $ 1,800.00 $ 1,800.00 Note: Please comment down for any further clarifiactions.