Question 3 of 6 -/1 E View Policies Current Attempt in Progress 3 9 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) $10,000, Equipment $10,000, Accounts Payable $7,100, and Owner's Capital $38,950. 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 $3,000: $1,500 was paid in cash and $1,500 will be paid on March 10. Ordered the Lord of the Rings movies to be shown the last 10 days of March. It will cost $150 per night. Received $4,300 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 $2.500 31 Received statement from Adam Ladd showing gross receipts from concessions of $6,000 and the balance due to Starr Theater of $900 ($6,000 x 15%) for March. Ladd paid one-half the balance due and will remit the remainder on April 5. 31 Received $8,900 cash from customers for admissions. Question 3 of 6 Debit Ref Credit No 101 Balance 3050 3050 Ref Debit Credit Nie 112 Balance Date Ref Debit Credit No. 140 Balance 23000 23000 Rer Debit Credit 10000 Ne 145 Balance 10000 No. 157 Balance Ref Debit Credit 10000 Cash Date Explanation Max 1 Balance Accounts Receivable Date Explanation Mar 1 Balance Land Explanation Mar. 1 Balance Buildings Date Explanation Mar. 1 Balance Equipment Date Explanation Mar. 1 Balance Accounts Payable Date Explanation Max 1 Balance Owner's Capital Date Explanation Mar 1 Balance Service Revenue Date Explanation Mar. 1 Balance Rent Revenue Date Explanation Mar 1 Balance Advertising Expense Date Explanation Mat1 Balance Salaries and Wages Ref Debit Credit No 201 Balance 7100 Na 301 Debit Credit 35 No 400 Balance Ref Debi Credit No 429 Ref Debit Credit Balance No 610 Balance Ref Debit Credit No. 726 Balance Debit Credit No 721 Date Explanation Mar1 Balance Rent Expense Date Explanation Mar. 1 Balance Red Debit Cred