Prairie Park was started on April 1 by C. J. Amaro and associates. The following

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Prairie Park was started on April 1 by C. J. Amaro and associates. The following selected events and transactions occurred during April. Apr. 1 Stockholders invested $50,000 cash in the business in exchange for common stock. 4 Purchased land costing $30,000 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 $1,500 cash for a one-year insurance policy. 17 Declared and paid a $1,400 cash dividend. 20 Received $5,700 in cash for admission fees. 25 Sold 100 coupon books for $30 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. Amaro 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.

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