Question

Concord’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 $68,500 cash in the business in exchange for common stock of the corporation.
3		Purchased Snead’s Golf Land for $42,800 cash. The price consists of land $24,300, building $9,730, and equipment $8,770. (Record this in a single entry.)
5		Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $2,120 cash.
6		Paid cash $2,700 for a 1-year insurance policy.
10		Purchased golf clubs and other equipment for $5,800 from Tahoe Company, payable in 30 days.
18		Received golf fees of $1,850 in cash from customers for golf services performed.
19		Sold 100 coupon books for $15 each in cash. Each book contains 10 coupons that enable the holder to play one round of miniature golf or to hit one bucket of golf balls. (Hint: The revenue should not be recognized until the customers use the coupons.)
25		Paid a $600 cash dividend.
30		Paid salaries of $780.
30		Paid Tahoe Company in full for equipment purchased on March 10.
31		Received $800 in cash from customers for golf services performed.

Journalize the March transactions. Concord’s records golf fees as service revenue. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are 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
choose a transaction date Mar. 1Mar. 3Mar. 5Mar. 6Mar. 10Mar. 18Mar. 19Mar. 25Mar. 30Mar. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Mar. 1Mar. 3Mar. 5Mar. 6Mar. 10Mar. 18Mar. 19Mar. 25Mar. 30Mar. 31	enter an account title for the journal entry on March 3	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on March 3	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on March 3	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on March 3	enter a debit amount	enter a credit amount
choose a transaction date Mar. 1Mar. 3Mar. 5Mar. 6Mar. 10Mar. 18Mar. 19Mar. 25Mar. 30Mar. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Mar. 1Mar. 3Mar. 5Mar. 6Mar. 10Mar. 18Mar. 19Mar. 25Mar. 30Mar. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Mar. 1Mar. 3Mar. 5Mar. 6Mar. 10Mar. 18Mar. 19Mar. 25Mar. 30Mar. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Mar. 1Mar. 3Mar. 5Mar. 6Mar. 10Mar. 18Mar. 19Mar. 25Mar. 30Mar. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Mar. 1Mar. 3Mar. 5Mar. 6Mar. 10Mar. 18Mar. 19Mar. 25Mar. 30Mar. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Mar. 1Mar. 3Mar. 5Mar. 6Mar. 10Mar. 18Mar. 19Mar. 25Mar. 30Mar. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Mar. 1Mar. 3Mar. 5Mar. 6Mar. 10Mar. 18Mar. 19Mar. 25Mar. 30Mar. 31	enter an account title to record salaries payment	enter a debit amount	enter a credit amount
	enter an account title to record salaries payment	enter a debit amount	enter a credit amount
	(Paid salaries expense)
choose a transaction date Mar. 1Mar. 3Mar. 5Mar. 6Mar. 10Mar. 18Mar. 19Mar. 25Mar. 30Mar. 31	enter an account title to record the payment to the creditor on account	enter a debit amount	enter a credit amount
	enter an account title to record the payment to the creditor on account	enter a debit amount	enter a credit amount
	(Paid creditor on account)
choose a transaction date Mar. 1Mar. 3Mar. 5Mar. 6Mar. 10Mar. 18Mar. 19Mar. 25Mar. 30Mar. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

Answer 1

Date	Account title and Explanation	Debit	Credit
Mar.1	Cash	$68,500
	Common stock		$68,500
Mar.3	Land	$24,300
	Building	9,730
	Equipment	8,770
	Cash		$42,800
Mar.5	Advertising expenses	$2,120
	Cash		$2,120
Mar.6	Prepaid insurance	$2,700
	Cash		$2,700
Mar.10	Golf club and other equipments	$5,800
	Accounts payable		$5,800
Mar.18	Cash	$1,850
	Service revenue		$1,850
Mar.19	Cash	$1,500
	Unearned revenue		$1,500
Mar.25	Dividends	$600
	Cash		$600
Mar.30	Salaries expenses	$780
	Cash		$780
	(Paid salaries expense)
Mar.30	Accounts payable	$5,800
	Cash		$5,800
	(Paid creditor on account)
Mar.31	Cash	$800
	Service revenue		$800