Forte Disc Golf Course wApagoMaPDF MEnhanceng selected Journalize a serī P2-1B events and transactions occurred during March. transactions. (SO 2, 4) Mar. 1 Invested $20,000 cash in the business. 3 GLS Purchased Heeren's Golf Land for $15,000 cash. The price consists of land $12,000, shed $2,000, and equipment $1,000. (Make one compound entry.) 5 Paid advertising expenses of $700. Paid cash $600 for a one-year insurance policy. Purchased golf discs and other equipment for $1,050 from Innova Company payable in 30 days. Received $1,100 in cash for golf fees earned (Forte records golf fees as service revenue). Sold 150 coupon books for $10 each. Each book contains 4 coupons that enable the holder to play one round of disc golf. Withdrew $800 cash for personal use. Paid salaries of $250. Paid Innova Company in full. Received $2,100 cash for fees earned. 6. 10 18 19 25 30 30 31 Matt Forte uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Unearned Service Revenue, Owner's Capital, Owner's Drawings, Service Revenue, Advertising Expense, and Salaries and Wages Expense.

Definition Definition Act of publishing journal entries in their respective general ledger accounts to create a consolidated view of an account. At the end of the fiscal year, ledger accounts are balanced and account balances in every ledger are consolidated together to create the trial balance.