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RET 5 Problem 3-04 Grouper'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 Stockholders invested $62,500 cash in the business in exchange for common stock of the corporation 3 Purchased Snead's Golf Land for $43,700 cash. The price consists of land $24.900, building 39,770, and equipment $9,000 (Record this in a single entry) Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,860 cach 6 Pad cash $4,850 for a 1 year insurance policy. 10 Purchased golf clubs and other equipment for 34,950 from The Company. payable 30 days 18 Recewed golf lees of $2.400 in cash from customers for golf services performed 19 Sold 110 coupon books for 525 each in cash. Each book contains 10 coupons that enable the holder to play one round of miniature golf or tot one bucket of of boils in the revenue Web recognized until the customers use the coupons.) 25 Paid a $560 cash dividend. 30 Pasid salaries of $800. 30 Paid Tahoe Company in foll for equipment purchased on March 10 31 Received $800 in cash from customers for golf services performed Journaline the March transactions, Grouper's records golf fees as service revenue (Il no entry is required, select "No Entry for the account titles and enter for the Credit nie Automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem Date Account Titles and Explanation Debit Credit (Paid salaries expense) (Paid creditor on account)