Eucpar Miniature Golf and Driving Range was opened on March 1 by Nicholas Palmer. The following selected events and transactions occurred during March: Mar. 1 Invested $50,000 cash in the business. 3 Purchased Tees Golf Land for $38,000 cash. The price consists of land $23,000, building $9,000, and equipment $6,000. (Make one compound entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,600. 6 Paid cash $1,480 for a one-year insurance policy. 10 Purchased golf clubs and other equipment for $2,600 from Hogan Company payable in 30 days. 18 Received $800 in cash for golf fees (record as service revenue). 19 Sold 100 coupon books for $15 each. Each book contains 10 coupons that enable the holder to play one round of miniature golf or to hit one bucket of golf balls. 25 Withdrew $2,000 cash for personal use. 30 Paid salaries of $600. 30 Paid Hogan Company in full. 31 Received $500 cash for golf fees. Nicholas Palmer uses the following accounts: Cash; Prepaid Insurance; Land; Buildings; Equipment; Accounts Payable; Unearned Service Revenue; Owners Capital; Owners Drawings; Service Revenue; Advertising Expense; and Salaries and Wages Expense.