Green Fields Miniature Golf and Driving Range Inc. was opened on March 1 by Mickey Fields. The

Green Fields Miniature Golf and Driving Range Inc. was opened on March 1 by Mickey Fields. 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 Melissa Wie’s Golf Land for $38,000 cash. The price consists of land $10,000; building $22,000; 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 $1,480 for a one-year insurance policy.

     10   Purchased golf equipment for $2,500 from Young Company, payable in 30 days.

     18   Received golf fees of $1,200 in cash.

     25   Declared and paid a $1,000 cash dividend.

     30   Paid wages of $900.

     30   Paid Young Company in full.

     31   Received $750 of fees in cash.

 

Instructions:  Journalize the March transactions.