Problem 2-1A

Frontier Park was started on April 1 by C. J. Mendez and associates. The following

selected events and transactions occurred during April.

Apr. 1 Shareholders invested $40,000 cash in the business in exchange for ordinary shares.

       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 $1,000 cash dividend.

       20 Received $5,700 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.

Mendez uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Admission Revenue, Share Capital—Ordinary; Dividends; Admission Revenue, Advertising Expense, and Salaries Expense.

Instructions

Journalize the April transactions.

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