The Mountain Biking Corp opened on April 1 The following

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The Mountain Biking Corp. opened on April 1. The following selected events and transactions
occurred during April:Apr. 1 Issued common shares for $100,000 cash.3 Purchased an out-of-
use ski hill costing $370,000, paying $60,000 cash and signing a bank loan payable for the
balance. The $370,000 purchase price consisted of land $204,000; buildings $121,000; and
equipment $45,000.8 Purchased advertising space of $1,800 on account.10 Paid salaries to
employees, $2,800.13 Hired a park manager at a salary of $4,000 per month, eff ective May
1.14 Paid $5,500 for a one-year insurance policy.17 Paid $600 of dividends to shareholders.20
Received $10,600 in cash from customers for admission fees.30 Paid $1,800 on account for the
advertising purchased on April 8.30 Paid $2,000 of interest on the bank loan.30 Paid an income
tax instalment of $800.InstructionsJournalize the April transactions.View Solution:
The Mountain Biking Corp opened on April 1 The following

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