LD Driving Range Inc. was opened on March 1 by Phil Woods. The following selected events and transactions occurred during March:
Woods uses the following accounts for his company: Cash; Prepaid Insurance; Prepaid Rent; Land; Buildings;
Equipment; Accounts Payable; Unearned Revenue; Common Shares; Dividends; Service Revenue; Advertising
Expense; Rent Expense; and Salaries and Wages Expense.
(a) Journalize the March transactions.
(b) Identify any adjusting entries that should be recorded before preparing financial statements for the month of March.