Reference no: EM132380176
Question
Bucket Club Miniature Golf and Driving Range was opened on May 1. The following events and transactions are for May:
May 1 Amin Mawani, the owner, invested $78,300 cash in the business.
May 2 Purchased Lee's Golf Land for $216,500. The price consists of land, $103,000; building, $70,500; and equipment, $43,000. Paid $60,500 cash and signed a note payable for the balance.
May 4 Purchased golf clubs and other equipment for $17,700 from Woods Company on account.
May 5 Hired a golf pro to teach lessons at the golf range at a rate of $30 per hour.
May 6 Paid $2,700 cash for a one-year insurance policy.
May 15 Collected $1,890 of golf fees earned in cash from customers.
May19 Paid Woods Company $4,000 for the items purchased on May 4.
May 20 Billed a customer, Deer Fern Inc., $1,250 for golf fees earned. Deer Fern Inc. paid $200 and agreed to pay the remaining amount owing in 10 days.
May 30
May 31 Received $1,050 from Deer Fern Inc. for the May 20 transaction.
May 31 Collected $3,310 cash from customers for golf fees earned.
May 31 Paid salaries of $2,680.
May 30 Received $1,050 from Deer Fern Inc. for the May 20 transaction.
May 31 Paid $730 of interest on the note payable.
May 31 Paid Amin Mawani $1,960 for his personal use.
Make the May transactions. Jornalise them.
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