RV Haven was started on April 1 by Tom Larkin. These selected events and transactions occurred during April.

Apr. 1 Stockholders invested $70,000 cash in the business in exchange for common stock.

4 Purchased land costing $50,000 for cash.

8 Purchased advertising in local newspaper for $1,200 on account.

11 Paid salaries to employees $2,700.

12 Hired park manager at a salary of $3,000 per month, effective May 1.

13 Paid $6,000 for a 1-year insurance policy.

17 Paid $600 cash dividends.

20 Received $5,000 in cash from customers for admission fees.

25 Sold 100 coupon books for $75 each. Each book contains ten coupons that entitle the holder to one admission to the park.

30 Received $7,900 in cash from customers for admission fees.

30 Paid $500 of the balance owed for the advertising purchased on account on April 8. The company uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Admissions, Common Stock, Dividends, Admission Revenue, Advertising Expense, and Salaries Expense.

Instructions

Journalize the April transactions, including explanations.