Answer:
Explanation:
The journal entries are shown below:
April 1
Cash A/c Dr $48,200
To Common stock A/c $48,200
(Being cash is exchange for common stock)
April 4
Land A/c Dr $29,900
To Cash A/c $29,900
(Being land is purchased for cash)
April 8
Advertising expenses A/c Dr $1,880
To Accounts payable A/c $1,880
(Being advertising expenses incurred)
April 11
Salaries Expense A/c Dr $960
To Cash A/c $960
(Being salaries expenses are paid)
April 12
No entry
April 13
Prepaid Insurance A/c Dr $1,940
To Cash A/c $1,940
(Being prepaid insurance is paid)
April 17
Dividend A/c Dr $690
To Cash A/c $690
(Being dividend is paid in cash)
April 20
Cash A/c Dr $4,900
To Admission revenue A/c $4,900
(Being cash is received for admission fees)
April 25
Cash A/c Dr (158 coupon books × 30 each) $4,740
To Unearned Admission revenue $4,740
(Being coupon books are sold)
April 30
Cash A/c Dr $8,200
To Admission revenue A/c $8,200
(Being cash is received for admission fees)
April 30
Accounts payable A/c Dr $570
To Cash A/c $570
(Being balance owed is paid)
