Friendley’s Miniature Golf and Driving Range Inc. was opened on March 1 by Dean Barley. These selected events and transactions occurred during March.
Mar. 1 Stockholders invested $50,000 cash in the business in exchange for common stock of the corporation.
3. Purchased Arnie’s Golf Land for $38,000 cash. The price consists of land $23,000, building $9,000, and equipment $6,000. (Record this in a single entry.)
5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,200 cash.
6 Paid cash $2,400 for a 1-year insurance policy.
10 Purchased golf clubs and other equipment for $5,500 from Golden Bear Company, payable in 30 days.
18 Received golf fees of $1,600 in cash from customers for golf services performed.
19 Sold 100 coupon books for $25 each in cash. Each book contains ten coupons that enable the holder to play one round of miniature golf or to hit one bucket of golf balls.
25 Paid a $500 cash dividend.
30 Paid salaries of $800.
30 Paid Golden Bear Company in full for equipment purchased on March 10.
31 Received $900 in cash from customers for golf services performed.
The company uses these accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Unearned Service Revenue, Common Stock, Retained Earnings, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense.

Instructions
Journalize the March transactions, including explanations. Friendley’s records golf fees as service revenue.