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.
Instructions
(a) Journalize the March transactions.
(b) Identify any adjusting entries that should be recorded before preparing financial statements for the month of March.

March Invested $80,000 cash in the business in exchange for common shares. 3 Purchased Mickey Mickelson's Golf Land for $70,500 cash. The price consists of $2,500 for March rent that was already paid; land, $20,000; building, $32,000; and equipment, $16,000. 5 LD sponsored and paid for an open house costing $6,800 6 Paid $2,400 cash for a one-year insurance policy. 10 Purchased golf equipment for $5,500 from VJ Ltd., payable in 30 days. 18 Earned fees of $3,700, which were billed on account. 25 Declared and paid a $1,500 cash dividend. 30 Incurred and paid salaries and wages expense of $1,900 30 Paid rent for the month of April in the amount of $2,500. 31 Received fees of $750 related to a golf tournament that will take place in Api