Assignment 5 March 1 March 3 March 5 March 6 March 15 Fred invested $10,000 cash and a van valued at $7,500 in exchange for 50,000 common shares. Paid $1,000 cash to advertise online. Purchased equipment on account: $3,000. Purchased a second van for $8,000. Paid $2,000 and took the rest as a car loan. Took first tour group to see the Grand Canyon. The trip was a success. Customers paid $1,000 each for their tour. In total, thirteen customers on the tour paid $12,000. One customer was not able to pay, but promised to pay his $1,000 by the end of the month. Joe paid his employees' salaries of $3,000. Purchased fuel for the vehicles: $500 Paid $800 to repair a broken window on one of the vans. March 16 March 17 March 19 March 20 Paid for the March 5 equipment purchase. March 22 Received a utilities bill: $200. Did not pay yet. March 25 Received the last $1,000 from the March 15 tour. March 31 March 31 Took a second tour group of 15 people. Each paid $1,000. Paid employees' salaries of $3,000. Took a dividend of $5,000. March 31 Required: Record all necessary journal entries based on the transactions above.