The Funtimes Miniature Golf and Driving Range, Inc. opened on May 1. These selected events and transactions occurred during May:

Problem 3-5A

 

	Your answer is correct.

The Funtimes Miniature Golf and Driving Range, Inc. opened on May 1. These selected events and transactions occurred during May:

May	1		Issued common shares for $126,770  cash.
	4		Purchased Henry’s Golf Land for $280,100. The price consists of land $132,850; building $101,690; and equipment $45,560. Paid cash of $104,620  and signed a mortgage payable for the balance.
	4		Paid $2,300 for a one-year insurance policy; coverage commences next month.
	5		Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $2,150.
	6		Purchased golf clubs and other equipment for $9,170  from Titleist Corporation on credit.
	18		Received $9,080  from customers for golf fees earned.
	20		Paid dividends of $810  to shareholders.
	21		Paid Titleist Corporation in full for equipment purchased on May 6.
	22		Received $1,360  from a school board that paid for students’ golf lessons that will be given in June.
	29		Paid $880 of interest on the mortgage payable.
	29		Paid salaries of $3,670.

Journalize the May transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

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