Base your answers to questions 10 through 13 on the following information:

Mr. Frank Blasi operates a movie theater at a downtown location. The theater's chart of accounts includes the following accounts which are to be used in answering questions 10 through 13. Account No. Account Title 101 Cash 111 Land 112 Buildings 121 Accounts Payable 122 Notes Payable 123 Mortgage Payable 131 Frank Blasi, Capital 132 Frank Blasi, Drawing 141 Admissions Revenue 151 Advertising Expense 152 Film Rental Expense 153 Light and Power Expense 154 Salaries Expense

10. On May 2, Mr. Blasi purchased land for $14,500 and a theater building for $30,500, paying cash in the amount of $25,000 and signing a note payable for the balance of $20,000. What two accounts were debited when this transaction was recorded? A. Cash and Notes Payable B. Land and Buildings C. Mortgage Payable and Accounts Payable D. Frank Blasi, Capital, and Frank Blasi, Drawing

Examination 85

11. On May 11, Mr. Blasi arranged with XYZ Studios for a two-week showing of their most recent production, at a total rental of $1,500. A cash payment of $750 was made, the balance to be paid after the run was over. What two accounts were credited when this transaction was recorded? A. Accounts Payable and Cash C. Frank Blasi, Drawing, and Cash B. Film Rental Expense and Cash D. Notes Payable and Cash

12. The box office cash receipts amounted to $1,140 for the week ending May 14. Which one of the following accounts was debited when this transaction was recorded? A. Cash C. Admissions Revenue B. Frank Blasi, Capital D. Accounts Payable

13. On May 30, the XYZ Studios was paid $750, the balance due on the showing of their production. What account was debited when this transaction was recorded? A. Accounts Payable C. Notes Payable B. Cash D. Film Rental Expense