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The Bramble Theater, owned by Meg Vargo, will begin operations in March. The Bramble will be unique in that it will show only triple features

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The Bramble Theater, owned by Meg Vargo, will begin operations in March. The Bramble will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Bramble showed: Cash No. 101 $2,950, No. 140 Land $24,000, No. 145 Buildings (concession stand, projection room, ticket booth, and screen) $11,000, No. 157 Equipment $11,000, No. 201 Accounts Payable $7,900, and No. 301 Owner's Capital $41,050. During the month of March, the following events and transactions occurred. Mar. 2 3 9 10 11 Rented the three Indiana Jones movies to be shown for the first 3 weeks of March. The film rental was $3,600;$1,400 was paid in cash and $2,200 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 $160 per night. Received $4,300 cash from admissions. Paid balance due on Indiana Jones movies rental and $2,100 on March 1 accounts payable. Bramble 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. Paid advertising expenses $800. Received $5,100 cash from customers for admissions. Received the Lord of the Rings movies and paid the rental fee of $1,600. Paid salaries of $2,800 Received statement from Adam Ladd showing gross receipts from concessions of $5,000 and the balance due to Bramble Theater of $750 ($5,000 x 15%) for March. Ladd paid one-half the balance due and will remit the remainder on April 5. Received $9.200 cash from customers for admissions. 12 20 20 31 31 31 Journalize the March transactions. Bramble records admission revenue as service revenue, rental of the concession stand as rent revenue, and film rental expense as rent expense. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation 3600 Mar. 2 Rent Expense Accounts Payable Cash Mar 3 V No Entry AL 4300 Mar. 9 Cash Service Revenue 2200 Mar. 107 Accounts Payable Cash 2100 Mar. 10 Accounts Payable Cash Mar. 11 No Entry 800 Mar. 12 V Advertising Expense Cash (Received admissions) 5100 Mar 20 Cash Service Revenue (Paid movie rental) 1600 Mar. 20 Rent Expense Cash (Paid salaries) 375 Mar 31 Cash UT NON 375 Accounts Receivable Service Revenue (Rent received) 2800 Mar 31 Salaries and Wages Expense Cash (Received admissions)

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