Surepar Disc Golf Course was opened on March 1 by Bill Arnsdorf. The following selected events and transactions occurred during March:

Mar. 1 Invested $60,000 cash in the business in exchange for common stock.

3 Purchased Lee's Golf Land for $38,000 cash. The price consists of land $23,000, shed $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 $2,400 for a one-year insurance policy.

10 Purchased golf discs and other equipment for $1,050 from Parton Company payable in 30 days.

18 Received $340 in cash for golf fees earned.

19 Sold 100 coupon books for $18 each. Each book contains 4 coupons that enable the holder to play one round of disc golf.

25 Declared and paid an $800 cash dividend.

30 Paid salaries of $250.

30 Paid Parton Company in full.

31 Received $200 cash for fees earned.

Bill Arnsdorf uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Unearned Service Revenue, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense.

Instructions

Journalize the March transactions.