P2-5A The Classic Theater opened on April 1. All facilities were completed on March 31. At this time, the ledger showed No. 101 Cash $6,000, No. 140 Land $10,000, No. 145 Buildings (concession stand, projection room, ticket booth, and screen) $8,000, No. 157 Equipment $6,000, No. 201 Accounts Payable $2,000, No. 275 Mortgage Payable $8,000, and No. 311 Share Capital - Ordinary $20,000. During April, the following events and transactions occurred. Apr. 2 Paid film rental of $800 on first movie. 3 Ordered two additional films at $1,000 each. 9 Received $1,800 cash from admissions. 10 Made $2,000 payment on mortgage and $1,000 for accounts payable due. 11 Classic Theater contracted with D. Zarle Company to operate the concession stand. Zarle is to pay 18% of gross concession receipts (payable monthly) for the rental of the concession stand. 12 Paid advertising expenses $300. 20 Received one of the films ordered on April 3 and was billed $1,000. The film will be shown in April. 25 Received $5,200 cash from admissions. 29 Paid salaries $1.600. 30 Received statement from D. Zarle showing gross concession receipts of $1,000 and the balance due to The Classic Theater of $180 ($1,000 x 18%) for April. Zarle paid one-half of the balance due and will remit the remainder on May 5. 30 Prepaid $900 rental on special film to be run in May