The Funtimes Miniature Golf and Driving Range, Inc. opened on May 1. These selected events and transactions occurred during May:
May 1 Issued common shares for $126,770 cash.
4 Purchased Henry’s Golf Land for $280,100. The price consists of land $132,850; building $101,690; and equipment $45,560. Paid cash of $104,620 and signed a mortgage payable for the balance.
4 Paid $2,300 for a one-year insurance policy; coverage commences next month.
5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $2,150.
6 Purchased golf clubs and other equipment for $9,170 from Titleist Corporation on credit.
18 Received $9,080 from customers for golf fees earned.
20 Paid dividends of $810 to shareholders.
21 Paid Titleist Corporation in full for equipment purchased on May 6.
22 Received $1,360 from a school board that paid for students’ golf lessons that will be given in June.
29 Paid $880 of interest on the mortgage payable.
29 Paid salaries of $3,670.
Journalize the May transactions.