Current Attempt in Progress

The Tamarisk Theater opened on April $1.$ All facilities were completed on March $31.$ At this time, the ledger showed No$.101$ Cash

$$7,930,$ No$.140$ Land $$10,070,$ No$.145$ Buildings $($concession stand, projection room, ticket booth, and screen$)$ $$6,070,$ No$.157$

Equipment $$7,930,$ No$.201$ Accounts Payable $$3,930,$ No$.275$ Mortgage Payable $$8,070,$ and No$.311$ Common Stock $$20,000.$

During April, the following events and transactions occurred.

Apr. $2$ Paid film rental of $$1,000$ on first movie.

$3$ Ordered two additional films at $$1,200$ each.

$9$ Received $$2,630$ cash from admissions.

$10$ Made $$2,050$ payment on mortgage and $$1,370$ for accounts payable due.

$11$ Tamarisk Theater contracted with Dever Company to operate the concession stand. Dever is to pay $18\%$ of gross

concession receipts $($payable monthly$)$ for the rental of the concession stand.

$12$ Paid advertising expenses $$330.$

$20$ Received one of the films ordered on April $3$ and was billed $$1,200.$ The film will be shown in April.

$25$ Received $$5,500$ cash from admissions.

$29$ Paid salaries $$1,600.$

$30$ Received statement from Dever showing gross concession receipts of $$1,300$ and the balance due to the Tamarisk

Theater of $$234($$$1,30018\%)$ for April. Dever paid one$-$half of the balance due and will remit the remainder on May $5.$

$30$ Prepaid $$960$ rental on special film to be run in May.

In addition to the accounts identified above, the chart of accounts shows No$.112$ Accounts Receivable, No$.136$ Prepaid Rent, No$.400$

Service Revenue, No$.429$ Rent Revenue, No$.610$ Advertising Expense, No$.726$ Salaries and Wages Expense, and No$.729$ Rent

Expense.