Current Attempt in Progress Crane Miniature Golf and Driving Range Inc. was opened on March 1 by Michael Wear. These selected events and transactions occurred during March. Mar. 1 Shareholders invested $52,000 cash in the business in exchange for common shares of the corporation. Purchased Arnie's Golf Land for $39,520 cash. The price consists of land $23,920, building $9,360, and equipment $6,240. 3 5 6 10 18 19 25 30 30 31 31 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,640 cash. Paid cash $2.520 for a 1-year insurance policy. Purchased golf clubs and other equipment for $4,960 from Golden Bear Company. payable in 30 days. Received golf fees of $1,200 in cash from customers for golf fees earned. Sold 104 coupon books for in cash. Each book contains ten coupons that enable the holder to play one round miniature golf or to hit one bucket of golf balls. (Hint: The revenue is not earned until the customers use the coupons.) Declared and paid a $520 cash dividend. Paid salaries of $680. Paid Golden Bear Company in full for equipment purchased on March 10. Received $880 in cash from customers for golf fees earned. Paid estimated income taxes for the month amounting to $104. The company uses these accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Deferred Revenue, Common Shares, Retained Earnings, Dividends Declared, Fees Earned. Advertising Expense, Salaries Expense, and Income Tax Expense. Prepare journal entries to record the March transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date V Account Titles and Explanation Debit Credit W

Crane Miriature Goff and Driving Range inc was opened on March 1 by Michael Wear. Thse yelected event and transactions octurted durine March Ma: 1 Shareholders imested 552,000 cashin the buliness in ecchange for commonstares of the cocporation 3. Purchaned Arriet Golf Land for 539.520cash The price consists of iand 523920 bulding 59,360 , and cquiphiaht 56240 5. Adwrthed the cosning of the driving rarge and minatare golf course, paying advertint evpenses of 51.640 cash 6. Paid cash 92.520 for a 1 year invarance policy 10 Purchased goll cluts and other equpmint for 34960 from Colden Bear Compank, peyade in 30 dars. 18 Recetwod gol fest of 51,200 in cash fromcustomers for polf fees earned. 19. Sold 104 coupon boois for 525 exh in cash Fach book containd ten coupont that enable the holice to plyy one round of miniuture gol for to nit one budixt of acef bels thete The reverue a not esmed unit the cuntomers ube the corecis) 25 Declared and panda 5580 cashdwisend 30 Paidsalariss of 58B0 30 Peid Gulakn Bez Compamy in hallor ecaipmemt purchaied on March 10 31 Receved 9500 in cath trom dustoters for gatikes carred 31 Paisestmated inkeme tawi for the month ambuntine 10$104 : Expense Prepare joumal eraries to record eke March eranactiont iCeaft occeunt tide dove atomatikily indented afen the andiat be enternt Do entriet deaard foumal entries in the order persented in the pretieme