Mar 1 2 On February 28, 2021. Ivanhoe Incis general ledger showed Cash $17,000; Land $87,000; Buildings $81,000; Equipment $18,000; Accounts Payable $14,000; Mortgage Payable $113,000; Common Shares $39,000; and Retained Earnings $37.000. During the month of March, the following transactions occurred: Received three movies to be shown during the first three weeks of March. The film rental was $27.000. Of that amount, $10,000 was paid in cash and the remainder was on account. (Hint: Ivanhoe uses the account Rent Expense to record film rentals) Hired M. Brewer to operate concession stand. Brewer agrees to pay Ivanhoe 15% of gross receipts payable on the last day of each month for the right to operate the concession stand. (Hint:Ivanhoe uses the account Concession Revenue to record concession receipts earned.) 5 Ordered three additional movies to be shown the last 10 days of March. The film rental cost will be $300 per night Paid balance due on the movies rented on March 1 Paid the accounts payable owing at the end of February Received $25,500 from customers for admissions for the first half of the month. (Hint: Ivanhoe uses the account Fees Earned to record revenue from admissions.) 19 Pald advertising expenses. $950 Received the movies ordered on March 5 and paid rental fee of $3,000 ($300 x 10 nights). Paid salaries of $4200 12 13 15 20 23 Mar 1 2 On February 28, 2021. Ivanhoe Incis general ledger showed Cash $17,000; Land $87,000; Buildings $81,000; Equipment $18,000; Accounts Payable $14,000; Mortgage Payable $113,000; Common Shares $39,000; and Retained Earnings $37.000. During the month of March, the following transactions occurred: Received three movies to be shown during the first three weeks of March. The film rental was $27.000. Of that amount, $10,000 was paid in cash and the remainder was on account. (Hint: Ivanhoe uses the account Rent Expense to record film rentals) Hired M. Brewer to operate concession stand. Brewer agrees to pay Ivanhoe 15% of gross receipts payable on the last day of each month for the right to operate the concession stand. (Hint:Ivanhoe uses the account Concession Revenue to record concession receipts earned.) 5 Ordered three additional movies to be shown the last 10 days of March. The film rental cost will be $300 per night Paid balance due on the movies rented on March 1 Paid the accounts payable owing at the end of February Received $25,500 from customers for admissions for the first half of the month. (Hint: Ivanhoe uses the account Fees Earned to record revenue from admissions.) 19 Pald advertising expenses. $950 Received the movies ordered on March 5 and paid rental fee of $3,000 ($300 x 10 nights). Paid salaries of $4200 12 13 15 20 23