Grandview Park was started on April 1 by R. S. Francis and associates. The following selected events and transactions occurred during April.
Apr. 1 Stockholders invested $50,000 cash in the business in exchange for common stock.
4 Purchased land costing $34,000 for cash.
8 Incurred advertising expense of $1,800 on account.
Apr. 11 Paid salaries to employees $1,500.
12 Hired park manager at a salary of $3,500 per month, effective May 1.
13 Paid $2,400 cash for a one-year insurance policy.
17 Declared and paid a $1,400 cash dividend.
20 Received $5,700 in cash for admission fees.
25 Sold 100 coupon books for $30 each. Each book contains 10 coupons that entitle the holder to one admission to the park.
30 Received $8,900 in cash admission fees.
30 Paid $840 on balance owed for advertising incurred on April 8.
Grandview uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Service Revenue, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense.
Journalize the April transactions.