e3 17 transactions of a corporation including investment and dividend snyder miniatu 264434

E3 17 (Transactions of a Corporation, Including Investment and Dividend) Snyder Miniature Golf and Driving Range Inc. was opened on March 1 by Mickey Snyder. 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 Michelle 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. Snyder uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense. Instructions Journalize the March transactions. (Provide explanations for the journal entries.)