The Concord Theater, owned by Meg Vargo, will begin operations in March. The Concord will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Concord showed: Cash No. 101 $3,050, No. 140 Land $23,000, No. 145 Buildings (concession stand, projection room, ticket booth, and screen) $12,000, No. 157 Equipment $12,000, No. 201 Accounts Payable $7,200, and No. 301 Owner's Capital $42,850. During the month of March, the following events and transactions occurred. Mar. 2 3 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. 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 12 222 Concord 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 $900. 20 Received $5,500 cash from customers for admissions.