post, and brepare t operations in March 2019. The of The Drive-in Movie Palace Ltd and (300) Share capital $89 300. During the month PSA2.8 Journalise transactions, The Drive-in Movie Palace Ltd was recenty formed. It began Movie Palace is unique in that it is a drive-in theatre and will show only triple features of sequential theme movies. As of 28 February, the showed: (100) Cash $19 100; (1 10) Equipment $19 100: (120) Land $45 100: (130) Buildings S21 100: (200) Accounts payable S15 100, of March the following events and transactions occurred: ledger Mar. 2 Acquired the first three Bourne movies (The Bourne Identity, The Bourne Supremacy and The Bourne Ultimatum) to be shown for the first 3 weeks of March. The film rental was $15 100; $8000 was paid in cash and $7100 will be paid on 10 March. 3 Ordered the Iron Man trilogy to be shown on the last 10 days of March It will cost $500 per night. 9 Received $11 600 cash from admissions. 10 Paid balance due on the Boume movies rental and $7100 on 28 February accounts payable. 11 Hired B. Barista to operate a coffee cart. Barista agrees to pay The Drive-in Movie Palace Lid 20% of gross receipts, payable monthly 12 Paid advertising expenses, $3900. 20 Received $10300 cash from admissions. 20 Received the Iron Man movies and paid rental fee of $5000 31 Paid salaries of $6900. 31 Received statement from B. Barista showing gross receipts from coffee cart sales of $11 100 and the balance due to The Drive-in Movie Palace Ltd of $2220 for March B. Barista paid half the balance due and willremit the remainder on 5 April. Received $21 600 cash from admissions. 31 146 Financial accounting: Reporting, analysis and decision making In addition to the accounts identified above, the chart of accounts includes: (105) Accounts receivable, (400) Admission revenue, (410) Coffee cart evenue, (500) Advertising expense, (510) Film rental expense, and (520) Salaries expense Required (a) Using T accounts, enter the beginning balances in the ledger (b) Journalise the March transactions, including narrations. (c) Post the March journal entries to the ledger accounts you prepared in part (a). (d) Prepare a trial balance as at 31 March 2019