Grandview Park was started on April 1 by R. S. Francis and associates. The following selected events and
transactions occurred during April.
Apr. 1Stockholders invested $51,600 cash in the business in exchange for common stock.4Purchased land costing $29,000 for cash.8Incurred advertising expense of $1,700 on account.11Paid salaries to employees $1,580.12Hired park manager at a salary of $3,400 per month, effective May 1.13Paid $1,340 cash for a one-year insurance policy.17Declared and paid a $1,830 cash dividend.20Received $6,700 in cash for admission fees.25Sold 134 coupon books for $59 each. Each book contains 10 coupons that entitle the holder to one admission to the park.30Received $9,400 in cash admission fees.30Paid $890 on balance owed for advertising incurred on April 8.
Grandview uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Service Revenue, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense.
Journalize the April transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)