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Current Attempt in Progress The Pharoah Theater Inc. was recently formed. It began operations in March 2022. The Pharoah is unique in that it will show only triple features of sequential theme movies. On March 1, the ledger of The Pharoah showed Cash $16,500; Land $37,500; Buildings (concession stand, projection room, ticket booth, and screen) $23,000; Equipment $14,000; Accounts Payable $13,000; and Common Stock $78,000. During the month of March, the following events and transactions occurred: Mar.2 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 $11,000: $1,700 was paid in cash and $9,300 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 $650 per night. 9 Received $10,100 cash from admissions. 10 Paid balance due on Star Wars movies' rental and $2.800 on March 1 accounts payable. 11 The Pharoah Theater contracted with R. Lazlo to operate the concession stand. Lazlo agrees to pay The Pharoah 15% of gross receipts payable monthly for the rental of the concession stand. 12 Paid advertising expenses $700, 20 Received 59.400 cash from customers for admissions. 20 Received the Star Trek movies and paid rental fee of $5,000 31 Paid salaries of $3.400. 31 Received statement from R. Lazlo showing gross receipts from concessions of $11,000 and the balance due to The Pharoah of $1.650 ($11,000 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. 31 Received $20,500 cash from customers for admissions Using T-accounts, enter the beginning balances to the ledger. Cash Land Buildings Equipment Accounts Payable Common Stock v Textbook and Media Journalize the March transactions. The Pharoah 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 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 MacBook Air > I MacBook Air nework - /5.5 lli Question 2 of 2 e Textbook and Media List of Accounts Post the March Journal entries to the ledger. (Post entries in the order of information presented in the question) Cash 3/1 Bal. 16,500 Cash 3/1 Bal. 16,500