The Adventure Miniature Golf and Driving Range, Inc. opened on May 1. The following selected events and transactions occurred during May:
May 1 Issued common shares for $120,000 cash.
4 Purchased Henry's Golf Land for $270,000. The price consists of land $125,000; buildings $100,000; and equipment $45,000. Paid cash of $100,000 and signed a mortgage payable for the balance.
4 Paid $1,500 for a one-year insurance policy; coverage begins next month.
5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $800.
6 Purchased golf clubs and other equipment for $9,000 on account from Titleist Corporation.
18 Received $8,800 from customers for golf fees earned.
20 Paid dividends of $1,000 to shareholders.
22 Received $1,200 from a school board that paid for students' golf lessons that will be given in June.
29 Paid Titleist Corporation in full for equipment purchased on May 6.
30 Paid $800 of interest on the mortgage payable.
30 Paid salaries of $3,400.
Instructions
Journalize the May transactions