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Sandhill Theatre, owned by Nadia Taylor, is unique as it shows only movies that are part of a theme with sequels. As at April 30,2024.

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Sandhill Theatre, owned by Nadia Taylor, is unique as it shows only movies that are part of a theme with sequels. As at April 30,2024. the ledger of Sandhill Theatre showed the following: Cash $18,300, Land $74,400, Buildings $68,800, Equipment $15,900, Accounts Payable $5,390, Mortgage Payable $106,000, and N. Taylor, Capital $66,010. In May, the following events and transactions occurred: May 1 Rented the first four Harry Potter movies, to be shown in the first two weeks of May. The film rental was $23,800, Of that amount, $10,284 was paid in cash and the balance will be paid on May 10. 2. Hired M. Brewer to operate the concession stand. Brewer agreed to pay Sandhill Theatre 15% of gross concession receipts, on the last day of each month, for the right to operate the concession stand. 7 Paid advertising expenses, $2,090. 10 Received $34,640 cash from customers for admissions. 10 Paid the balance due from the May 1 movie rental transaction. 15 Received the final four Harry Potter movies to be shown in the last two weeks of May. The film rental cost was $27,600. Paid $13,800 cash and the balance will be paid on June 1. 25 Paid the accounts payable owing at the end of April. 30 Paid salaries of $5,430. 31 Received statement from Brewer showing gross receipts from concessions of $25,800 and the balance due to Sandhill Theatre of $3,870($25,80015%) for May, Brewer paid $2,500 of the balance due and will pay the rest on June 5. 31 Received $41,000 cash from admissions: 31 Made a $1,890 mortgage payment. Of this amount, $1,285 is a principal payment, and $605 is interest on the mortgage. In addition to the accounts identified above. Sandhill Theatre's ledger includes the following: Accounts Receivable: Admission Revenue: Concession Revenue; Advertising Expense; Film Rental Expense; Interest Expense; and Salaries Expense. Journalize the May transactions. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) (To record admission revenue) (Payment on account) (To record concession revenue) (To record admission revenue) (To record mortgage payment)

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