Question

I filled in the boxes for the below question but feel the answers are mostly incorrect. Can you review my answers and show corrections/explanations? Thank you.

P2-1B Surepar Disc Golf Course was opened on March 1 by Brian Lande and associates. The following selected events and transactions occurred during March Mar. Stockholders Invested S60,000 cash in the business in exchange for common stock. Purchased Arnie's Golf Land for $38,000 cash. The price consists of land $26,000, shed $8,000, and equipment $4,000. (Make one compound entry.) Advertised the opening of the driving range and miniature golf course paying advertising expenses of $1,600 Paid cash $3,800 for a one-year insurance policy 3 5 6 10 Purchased golf discs and other equipment for $1,050 from Wheeler Company payable in 30 days Received $420 in cash for golf fees Sold 100 coupon books for $18 each. Each book contains 4 coupons that enable the holder to play one round of disc golf Declared and paid an $800 cash dividend Paid salaries of $280 Paid Wheeler Company in full Received S200 cash for golf fees 18 19 25 30 30 31 Surepar uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equip- ment Accounts Payable, Unearned Service Revenue, Common Stock, Dividends Service Revenue, Advertising Expense, and Salaries and Wages Expense Instructions Journalize the March transactions

Answer 1

Except those marked in yellow, all others are correct.

Date	Account Tittle	Debit	Credit
01-Mar	Cash	60000
	Common Stock		60000
03-Mar	Land	26000
	Building	8000
	Equipment	4000
	Cash		38000
05-Mar	Advertising expense	1600
	Cash		1600
06-Mar	Prepaid Insurance	3800
	Cash		3800
10-Mar	Equipment	1050
	Accounts Payable		1050
18-Mar	Cash	420
	Service Revenue		420
19-Mar	Cash	1800
	Unearned Service Revenue		1800
25-Mar	Dividends	800
	Cash		800
30-Mar	Salaries & Wage Expense	280
	Cash		280
30-Mar	Accounts Payable	1050
	Cash		1050
31-Mar	Cash	200
	Service Revenue		200