Reference no: EM132380515
Question
Frontier Park was started on April 1 by M. Preston. The following selected events and transactions occurred during April.
Apr. 1 Preston invested $35,000 cash in the business.
4 Purchased land costing $27,000 for cash. 8 Incurred advertising expense of $1,800 on account.
11 Paid salaries to employees $1,500.
12 Hired park manager at a salary of $4,000 per month, effective May 1.
13 Paid $1,650 cash for a one-year insurance policy.
17 Withdrew $1,000 cash for personal use.
20 Received $6,800 in cash for admission fees.
25 Sold 100 coupon books for $25 each.
Each book contains 10 coupons that entitle the holder to one admission to the park.
30 Received $8,900 in cash admission fees.
30 Paid $900 on balance owed for advertising incurred on April 8.
Frontier Park uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Service Revenue, Owner's Capital, Owner's Drawings, Service Revenue, Advertising Expense, and Salaries and Wages Expense.
(a) Journalize the transactions. (Omit explanations.)
(b) Post to the ledger accounts.
(c) Prepare trial balance
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