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(To record admission revenue) (Payment on account) Equipment Date Explanation Ref Debit Credit Balance Balance Accounts Payable Date Explanation Ref Debit Credit Balance Balance Mortgage Payable Date Explanation Ref Debit Credit Balance Balance N. Wood, Capital Date Explanation Ref Debit Credit Balance Balance v (To record concession revenue) (To record admission revenue) (To record mortgage payment) - 78 Enter the beginning balances in the ledger as at May 1. Cash Date Explanation Ref Debit Credit Balance Balance Land Date Explanation Ref Debit Credit Balance Balance Building Date Explanation Ref Debit Credit Balance 2 Balance Equipment Date Explanation Ref Debit Credit Balance Accounts Payable Date Explanation Ref Debit Credit Balance May 1 Balance V 4,990 Mortgage Payable Date Explanation Ref Debit Credit Balance May 1 Balance 106.300 Prepare a trial balance at the end of May. SEQUEL THEATRE Trial Balance Debit WE Prepare a trial balance at the end of May. SEQUEL THEATRE Trial Balance Debit Credit $ > Totals $ e Textbook and Media -18 View Policies Current Attempt in Progress Sequel Theatre, owned by Nadia Wood, is unique as it shows only movies that are part of a theme with sequels. As at April 30, 2021, the ledger of Sequel Theatre showed the following: Cash, $ 18,900; Land, $ 75,000; Buildings. $69.800; Equipment, $ 17,000; Accounts Payable. $4.990; Mortgage Payable, $ 106,300: and N. Wood, Capital $ 69,410. In May, the following events and transactions occurred: May 1 Rented the first four Harry Potter movies, to be shown in the first two weeks of May. The film rental was $25,000. Of that amount. $ 10.784 was paid in cash and the balance will be paid on May 10. 2 Hired M. Brewer to operate the concession stand. Brewer agreed to pay Sequel Theatre 15% of gross concession receipts, on the last day of each month, for the right to operate the concession stand. 7 Paid advertising expenses. $ 1.090. 10 Received $ 35.940 cash from customers for admissions. 10 Paid the balance due from the May 1 movie rental transaction. 15 Received the final four Harry Potter movies to be shown in the last two weeks of May. The film rental cost was $28.600. Paid $ 14.300 cash and the balance will be paid on June 1. 25 Paid the accounts payable owing at the end of April. 10 Paid the balance due from the May 1 movie rental transaction. 15 Received the final four Harry Potter movies to be shown in the last two weeks of May. The film rental cost was $28,600. Paid $ 14,300 cash and the balance will be paid on June 1. 25 Paid the accounts payable owing at the end of April. 30 Paid salaries of $ 6.230. 31 Received statement from Brewer showing gross receipts from concessions of $ 27.700 and the balance due to Sequel Theatre of $4.155 ($ 27.700 x 15%) for May. Brewer paid $ 2,370 of the balance due and will pay the rest on June 5. 31 Received $ 41.800 cash from admissions. 31 Made a $ 1.790 mortgage payment. Of this amount. $ 1.185 is a principal payment, and $ 605 is interest on the mortgage. In addition to the accounts identified above. Sequel Theatre's ledger includes the following: Accounts Receivable: Admission Revenue; Concession Revenue: Advertising Expense: Film Rental Expense: Interest Expense; and Salaries Expense. Journalize the May transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Post the Mayjournal entries to the ledger. (Post entries in the order of journal entries presented in the previous part.) Cash Date Explanation Ref Debit Credit May 1 Balance Balance 18.900 > > > WE