Mar. 2 3 9 10 The Sheridan Theater, owned by Meg Vargo, will begin operations in March. The Sheridan will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Sheridan showed: Cash No. 101 $3,050, No. 140 Land $ 23,000, No. 145 Buildings (concession stand, projection room, ticket booth, and screen) $10,000, No. 157 Equipment $10,000, No. 201 Accounts Payable $ 7,100, and No. 301 Owner's Capital $ 38,950. During the month of March, the following events and transactions occurred. Rented the three Indiana Jones movies to be shown for the first 3 weeks of March. The film rental was $3.000, $ 1.500 was paid in cash and $1.500 will be paid on March 10. Ordered the Lord of the Rings movies to be shown the last 10 days of March. It will cost $150 per night. Received $4,300 cash from admissions. Paid balance due on Indiana Jones movies rental and $ 1,700 on March 1 accounts payable. Sheridan Theater contracted with Adam Ladd to operate the concession stand. Ladd is to pay 15% of gross concession receipts payable monthly, for the rental of the concession stand. Paid advertising expenses $ 900. 20 Received $5.500 cash from customers for admissions. Received the Lord of the Rings movies and paid the rental fee of $ 1.500. Paid salaries of $ 2,500 31 Received statement from Adam Ladd showing gross receipts from concessions of $ 6,000 and the balance due to Starr Theater of $ 900 (6,000 x 15%) for March. Ladd paid one half the balance due and will remit the remainder on April 5. Received $ 8,900 cash from customers for admissions. 11 12 20 31 31 Enter the beginning balances in the lediger. Cash No. 101 Debit Credit Balance No. 112 Ref Debit Credit Balance No. 140 Ref Date Explanation Mar. 1 Bakarice Accounts Receivable Date Explanation Mar. 1 Balance Land Date Explanation Mar. 1 Balance Buildings Date Explanation Mar. 1 Balance Equipment Date Explanation Debit Debit Credit Balance No. 145 Ref Debit Debit Credit Balance No. 157 Ref Debit Credit Balance Mar. 1 Balance Accounts Payable No. 201 Date Explanation Ref Debit Credit Balance Mar. 1 Balance Owner's Capital No. 301 Date Explanation Ref Debit Credit Balance Mar. 1 Balance Service Revenue No. 400 Date Explanation Ref Debit Credit Balance Mar. 1 Balance No. 429 Rent Revenue Date Ref Explanation Debit Debit Credit Balance No. 610 Ref Debit Balance Debit Credit Mar. 1 Balance Advertising Expense Date Explanation Mar. 1 Balance Salaries and Wages Expense Date Explanation No. 726 Credit Balance Debit Ref Mar. 1 Balance No. 729 Rent Expense Credit Debit Credit Balance Ref Date Explanation Mar. 1 Balance