rontier Park was started on April 1 by C. J. Mendez and associates. The bllowing selected events and transactions occurred during April. Apr. 1 Shareholders invested $40,000 cash in the business in exchange for ordinary shares. 4 Purchased land costing $30,000 for cash. 8 Incurred advertising expense of $1,800 on account. 11 Paid salaries to employees $1,500. 12 Hired park manager at a salary of $4,000 per month, effective May 1. 17 Declared and paid a $1,000 cash dividend. 20 Received \$5,700 in cash for admission fees. 30 Received $8,900 in cash admission fees. 30 Paid $900 on balance owed for advertising incurred on April 8. Iendez uses the following accounts: Cash, Land, Accounts Payable, hare Capital-Ordinary; Dividends; Admission Revenue, Advertising xpense, and Salaries Expense. [nstructions