Novak’s Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March. Mar. 1 Stockholders invested $64,500 cash in the business in exchange for common stock of the corporation. Mar. 3 Purchased Snead’s Golf Land for $45,900 cash. The price consists of land $23,800, building $9,310, and equipment $12,790. (Record this in a single entry.)Mar. 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $2,450 cash. Mar. 6 Paid cash $2,500 for a 1-year insurance policy. Mar. 10 Purchased golf clubs and other equipment for $5,550 from Tahoe Company, payable in 30 days. Mar. 18 Received golf fees of $2,300 in cash from customers for golf services performed. Mar. 19 Sold 115 coupon books for $30 each in cash. Each book contains 10 coupons that enable the holder to play one round of miniature golf or to hit one bucket of golf balls. (Hint: The revenue should not be recognized until the customers use the coupons.) 25 Paid a $490 cash dividend. 30 Paid salaries of $760.Mar. 30 Paid Tahoe Company in full for equipment purchased on March 10.Mar. 31 Received $990 in cash from customers for golf services performed. Journalize the March transactions. Friendley's records golf fees as service revenue.