Instructions Prepare a correct trial balance. (Hint: It helps to prepare the correct journal entry for the transaction described and compare it to the mistake made.) T rial balance totals $15,462 Journalise transactions, post, and prepare a trial balance. P2.5 (L01,2,3,4) The Sun Theater, owned by Ha Ji Won, will begin operations in March. The Sun will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Sun showed No. 101 Cash W3.000, No. 140 Land W24,000, No. 145 Buildings (concession stand, projec- tion room, ticket booth, and screen) W10,000, No. 157 Equipment W10,000, No. 201 Accounts Payable W7,000, and No. 301 Owner's Capital W-40,000. During the month of March, the following events and transactions occurred amounts in thousands). Mar. 2 Rented the three Kung Fu Panda movies to be shown for the first 3 weeks of March. The film rental was W3,500; W1,500 was paid in cash and W2,000 will be paid on March 10. 3 Ordered three Batman movies to be shown the last 10 days of March. It will cost W200 per night. 9 Received *4,300 cash from admissions. 10 Paid balance due on Kung Fu Panda movies rental and W2,100 on March 1 accounts payable. 11 Sun Theater contracted with So Bin to operate the concession stand. Bin is to pay 15% of gross concession receipts, payable monthly, for the rental of the concession stand. 12 Paid advertising expenses W900. 20 Received 45.000 cash from customers for admissions. 20 Received the Batman movies and paid the rental fee of 42.000. 31 Paid salaries of W3,100. 31 Received statement from So Bin showing gross receipts from concessions of W6,000 and the balance due to Starr Theater of W900 (W6,000 x 15%) for March. Bin paid one-half the balance due and will remit the remainder on April 5. 31 Received W9.000 cash from customers for admissions. 2-42 CHAPTER 2 The Recording Process In addition to the accounts identified above, the chart No. 400 Service Revenue, No. 429 Rent Revenue Wages Expense, and No. 729 Rent Expense. unts identified above, the chart of accounts includes No. 112 Accounts Receivable Venue, No. 429 Rent Revenue, No. 610 Advertising Expense, No. 726 Salaries and Instructions nter the beginning balances in the ledger. Insert a check mark ) in the reference column of the ledger for the beginning balance. anize the March transactions. Sun records admission revenue as service revenue, rental of the concession stand as rent revenue, and film rental expense as rent expens c. Post the March journal entries to the ledger. Assum arch journal entries to the ledger. Assume that all entries are posted from page 1 of the journal. d. Prepare a trial balance on March 31, 2020. d. Trial balance totals 164,100