Problem 2-05A a-d (Video) The Starr Theater, owned by Meg Vargo, will begin operations in March. The Starr will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Starr showed: Cash $3,050, Land $23,000, Buildings (concession stand, projection room, ticket booth, and screen) $12,000, Equipment $12,000, Accounts Payable $7,200, and Owner's Capital $42,850. During the month of March, the following events and transactions occurred Mar. 2 Rented the three Indiana Jones movies to be shown for the first 3 weeks of March. The film rental was $3,500; $1,400 was paid in cash and $2,100 will be paid on March 10 3 Ordered the Lord of the Rings movies to be shown the last 10 days of March. It will cost $150 per night. 9 Received $4,400 cash from admissions 10 Paid balance due on Indiana Jones movies rental and $1,700 on March 1 accounts payable 11 Starr Theater contracted with Adam Ladd to operate the concession stand. Ladd is to pay 15% of gross concession receipts, payable monthly, for the rental of the concession stand 12 Paid advertising expenses $900 20 Received $5,500 cash from customers for admissions 20 Received the Lord of the Rings movies and paid the rental fee of $1,500 31 Paid salaries of $2,600 31 Received statement from Adam Ladd showing gross receipts from concessions of $5,000 and the balance due to Starr Theater of $750 ($5,000 15%) for March. Ladd paid one-half the balance due and will remit the remainder on April 5 31 Received $9,000 cash from customers for admissions