Hyzer Disc Golf Course was opened on March 1 by Barry Schultz. The following se-

lected events and transactions occurred during March:

Mar. 1

Invested $20,000 cash in the business.

Purchased Heeren's Golf Land for $15,000 cash. The price consists of land $12,000,

shed $2,000, and equipment $1,000. (Make one compound entry.)

Advertised the opening of the driving range and miniature golf course, paying adver-

tising expenses of $700.

Paid cash $600 for a one-year insurance policy.

Purchased golf discs and other equipment for $1,050 from Innova Company payable in

30 days.

18

Received $340 in cash for golf fees earned.

19

Sold 100 coupon books for $10 each. Each book contains 4 coupons that enable the

holder to play one round of disc golf.

25

Withdrew $800 cash for personal use.

30

Paid salaries of $250.

30

Paid Innova Company in full.

31

Received $200 cash for fees earned.

Barry Schultz uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment,

Accounts Payable, Unearned Revenue, B. Schultz, Capital; B. Schultz, Drawing; Golf Revenue,

Advertising Expense, and Salaries Expense.

Instructions

Journalize the March transactions.

P2-1B Hyzer Disc Golf Course was opened on March 1 by Barry Schultz. The following selected events and transactions occurred during March: Mar. 1 Invested $20,000 cash in the business. 3 Purchased Heeren's Golf Land for $15,000 cash. The price consists of land $12,000, shed $2,000, and equipment $1,000. (Make one compound entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $700. 6 Paid cash $600 for a one-year insurance policy. 10 Purchased golf discs and other equipment for $1,050 from Innova Company payable in 30 days. 18 Received $340 in cash for golf fees earned. 19 Sold 100 coupon books for $10 each. Each book contains 4 coupons that enable the holder to play one round of disc golf. 25 Withdrew $800 cash for personal use. 30 Paid salaries of $250. 30 Paid Innova Company in full. 31 Received $200 cash for fees earned. Barry Schultz uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Unearned Revenue. B. Schultz, Capital; B. Schultz, Drawing; Golf Revenue, Advertising Expense, and Salaries Expense. Instructions Journalize the March transactions