Current Attempt in Progress The Flounder Theatre Inc. was recently formed. It began operations in March 2020. The Flounder is unique in that it will show only triple features of sequential theme movies. On March 1, the ledger of The Flounder showed Cash $16,600, Land $39,200, Buildings (concession stand, projection room, ticket booth, and screen) $22,900, Equipment $15,100, Accounts Payable $11,400, and Common Shares $82,400. During the month of March, the following events and transactions occurred. Mar. 2 3 Rented the first three Star Wars movies (Star Wars, The Empire Strikes Back, and The Return of the Jedi) to be shown for the first three weeks of March. The film rental was $9,400; $2,060 was paid in cash and $7,340 will be paid on March 10. Ordered the first three Star Trek movies to be shown the last 10 days of March. It will cost $560 per night. 9 Received $10,500 cash from admissions. 10 Paid balance due on Star Wars movies' rental and $3,500 on March 1 accounts payable. 11 The Flounder Theatre contracted with R. Lazio to operate the concession stand. Lazio agrees to pay The Triquel 21% of gross receipts, payable monthly, for the rental of the concession stand. Paid advertising expenses $440. 12 20 Received $7,700 cash from customers for admissions. 20 Received the Star Trek movies and paid rental fee of $4,400. 31 Paid salaries of $4,400