Reference no: EM132638433
Problem - Skysong, Inc. was opened on March 1 by Phil Woods. The following selected events and transactions occurred during March:
March 1 Invested $80,000 cash in the business in exchange for common shares.
March 3 Purchased Mickey Mickelson's Golf Land for $65,280 cash. The price consists of $2,280 for March rent (use prepaid account) that was already paid on a storage warehouse; land, $18,100; buildings, $31,700; and equipment, $13,200.
March 5 To advertise the new driving range, Skysong sponsored and paid for an open house costing $6,950. 6 Paid $2,200 cash for a one-year insurance policy.
March 10 Purchased golf equipment for $5,380 from Grouper Corp., payable in 30 days.
March 18 Earned fees of $3,600, which were billed on account.
March 25 Declared and paid a $1,680 cash dividend.
March 30 Incurred and paid salaries and wages expense of $2,040.
March 30 Paid rent for the month of April in the amount of $2,450.
March 31 Received fees of $820 related to a golf tournament that will take place in April.
Required - Journalize the March transactions.
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