Please answer #18, SHOWING ALL WORK ACCORDINGLY ON ALL SECTIONS. Thank you!

The Crane Theater Inc. was recently formed. It began operations in March 2022. The Crane is unique in that it will show only triple features of sequential theme movies. On March 1, the ledger of The Crane showed Cash $ 17,500; Land $ 35,500; Buildings (concession stand, projection room, ticket booth and screen) $ 20,500; Equipment $ 20,000; Accounts Payable $ 10,500; and Common Stock $ 83,000. During the month of March, the following events and transactions occurred: Mar. 2 3 9 10 11 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 film rental was $ 11,500; $ 2,200 was paid in cash and $ 9,300 will be paid on March 10. Ordered the first three Star Trek movies to be shown the last 10 days of March. It will cost $ 700 per night. Received $ 9,000 cash from admissions, Paid balance due on Star Wars movies' rental and $ 2.500 on March 1 accounts payable. The Crane Theater contracted with R. Lazlo to operate the concession stand. Lazlo agrees to pay The Crane 15% of gross receipts payable monthly, for the rental of the concession stand. Paid advertising expenses $ 700. Received $ 9,600 cash from customers for admissions. Received the Star Trek movies and paid rental fee of $ 4,000. Paid salaries of $4,500 Received statement from R. Lazlo showing gross receipts from concessions of $ 11.200 and the balance due to The Crane of $1,680 ($11.200x.15) for March. Lazlo paid half the balance due for the rental of the concession stand and will remit the remainder on April 5. 12 20 20 31 31 31 Received statement from R. Lazlo showing gross receipts from concessions of $ 11,200 and the balance due to The Crane of $1,680 ($ 11,200 x .15) for March. Lazlo paid half the balance due for the rental of the concession stand and will remit the remainder on April 5. Received $ 23,000 cash from customers for admissions. 31 (a) Your answer has been saved. See score details after the due date. Using T-accounts, enter the beginning balances to the ledger. Cash 3/1 Bal. 17.500 Land 3/1 Bal. 35.500 Buildings Buildings 3/1 Bal. 20.500 Equipment 3/1 Bal. 20,000 Accounts Payable 3/1 Bal. 10,500 Common Stock 4 3/1 Bal. 4 83,000 (b) Journalize the March transactions. The Crane records admission revenue as service revenue, concession revenue as rent 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