Culver's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March Mar. 1 3 5 6 10 18 Stockholders invested $60,500 cash in the business in exchange for common stock of the corporation. Purchased Snead's Golf Land for $47,600 cash. The price consists of land $23,300, building $9,160, and equipment $15,140. (Record this in a single entry) Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $2,990 cash. Paid cash $4,450 for a 1-year insurance policy. Purchased golf clubs and other equipment for $4,550 from Tahoe Company, payable in 30 days. Received golf fees of $2,150 in cash from customers for golf services performed. Sold 105 coupon books for $10 each in cash. Each book contains 10 coupons that enable the holder to play one round of miniature golf or to hit one bucket of golf balls. (Hint: The revenue should not be recognized until the customers use the coupons.) Paid a $680 cash dividend Paid salaries of $820. Paid Tahoe Company in full for equipment purchased on March 10. Received $960 in cash from customers for golf services performed. 19 25 30 30 31 Date Account Titles and Explanation Debit Credit (Paid salaries expense) V (Paid creditor on account)