Evergreen Campground was started on June 1 by Jolene and David Collier. The following selected events and transactions occurred during June.
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June 1
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Invested $150,000 cash in the business in exchange for common stock.
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4
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Purchased land costing $40,000 for cash.
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8
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Incurred advertising expense of $3,500 on account.
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11
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Paid salaries to employees $1,500.
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12
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Hired Campground manager at a salary of $5,000 per month, effective July 15.
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13
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Paid $2,000 for a one-year insurance policy.
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20
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Received $9,000 in cash for admission fees.
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30
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Received $5,000 in cash for admission fees.
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30
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Paid $1,000 on account for advertising incurred on June 8.
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Evergreen uses the following accounts: Cash; Prepaid Insurance; Land; Accounts Payable; Unearned Admissions; Common mission Revenue Advertising Expense; and Salaries Expense.
Instructions Journalize the April transactions.