Mar 2 The Sheridan Theater Inc. was recently formed. It began operations in March 2022. The Sheridan is unique in that it will show only triple features of sequential theme movies. On March 1. the ledger of The Sheridan showed Cash $15,500; Land 537500; Buildings (concession stand projection room, ticket booth, and screen) $20,500, Equipment $15,000; Accounts Payable $12,400, and Common Stock 576,100. During the month of March, the following events and transactions occurred: 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 him rental was $13,000: $1,600 was paid in cash and $11,400 will be paid on March 10 3 Ordered the first three Star Trek movies to be shown the last 10 days of March. It will cost $550 per night. 9 Received $9.400 cash from admissions Paid balance due on Star Wars movies' rental and $2,800 on March 1 accounts payable. The Sheridan Theater contracted with R. Lazlo to operate the concession stand. Lazlo agrees to pay The Sheridan 15% of gross receipts, payable monthly, for the rental of the concession stand. Paid advertising expenses $500 Received $9,600 cash from customers for admissions 20 Received the Star Trek movies and paid rental fee of $5,000. Paid salaries of $4,500 31 Received statement from R. Lazlo showing gross receipts from concessions of $10,600 and the balance due to The Sheridan of $1.590 ($10,600 x 15) for March. Lazlo paid half the balance due and will remit the remainder on April 31 Received $24,500 cash from customers for admissions. 10 11 12 20 31 Journalize the March transactions. The Sheridan records admission revenue as service revenue, concession revenue as sales revenue and film rental expense as rent expense. (If no entry is required, select "No entry for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit