The Crane Theater, owned by Meg Vargo, will begin operations in March. The Crane will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Crane showed: Cash No. 101 $2,950, No. 140 Land $22,000, No. 145 Buildings (concession stand, projection room, ticket booth, and screen) $10,000, No. 157 Equipment $10,000, No. 201 Accounts Payable $6,000, and No. 301 Owners 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; $1,400 was paid in cash and $1,600 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 $4,000 cash from admissions.

10 Paid balance due on Indiana Jones movies rental and $1,500 on March 1 accounts payable.

11 Crane 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 $700.

20 Received $5,000 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 $5,000 and the balance due to Crane 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 $8,900 cash from customers for admissions.

The Crane Theater, owned by Meg Vargo, will begin operations in March. The Crane will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Crane showed: Cash No. 101 $2,950, No. 140 Land $22,000, No. 145 Buildings (concession stand, projection room, ticket booth, and screen) $10,000, No. 157 Equipment $10,000, No. 201 Accounts Payable $6,000, and No. 301 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; $1,400 was paid in cash and $1,600 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. 19 Received $4,000 cash from admissions. 10 Paid balance due on Indiana Jones movies rental and $1.500 on March 1 accounts payable. 11 Crane 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 $700. 20 Received $5,000 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 $5,000 and the balance due to Crane Theater of $750 ($5,000 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. (a) Enter the beginning balances in the ledger. Cash Explanation Ref Ref Ref Ref Date Mar. 1 Balance Accounts Receivable Date Explanation Mar. 1 Balance Date Explanation Mar. 1 Balance Date Explanation Mar. 1 Balance Land Buildings Debit Debit Debit Debit Credit Credit Credit Credit No. 101 No. 112 No. 140 No. 145 Balance Balance Balance Balance Equipment Date Explanation Mar. 1 Balance Accounts Payable Date Explanation Mar. 1 Balance Owner's Capital Date Explanation Mar. 1 Balance Service Revenue Date Explanation Mar. 1 Balance Rent Revenue Date Explanation Mar. 1 Balance Ref Ref Ref Ref Ref Debit Debit Debit Debit Debit Credit Credit Credit Credit Credit Balance Balance Balance Balance Balance No. 157 No. 201 No. 301 No. 400 No. 429 Advertising Expense Date Explanation Mar. 1 Balance Salaries and Wages Expense Date Explanation Mar. 1 Balance Rent Expense Date Explanation Mar. 1 Balance Ref Ref Ref Debit Debit Debit Credit Credit Credit Balance Balance Balance No. 610 No. 726 No. 729 Journalize the March transactions. Crane 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 0 for the amounts.) Date Account Titles and Explanation Debit Credit 1 (Received admissions) (Paid movie rental) (Paid salaries) 11 ||||| (Rent received) (Received admissions) Post the March journal entries to the ledger. (Post entries in the order of journal entries presented in the previous question.) Cash No. 101 Date Explanation Ref Debit Credit Balance 2,950 J1 J1 J1 J1 Mar. 1 Balance J1 J1 J1 J1 J1 Accounts Receivable Date Explanation Ref J1 Explanation Ref Ref Explanation Ref Explanation Ref J1 J1 Land Date Buildings Date Equipment Date Mar. 1 Balance Explanation Mar. 1 Balance Mar. 1 Balance Accounts Payable Date Mar. 1 Balance Debit Debit Debit Debit Debit 11 Credit Credit Credit Credit Credit No. 112 No. 140 22,000 No. 145 10,000 No. 157 10,000 No. 201 6,000 Balance Balance Balance Balance Balance Owner's Capital Date Explanation Ref Mar. 1 Balance Explanation Ref J1 J1 J1 Explanation Ref J1 Explanation Ref J1 Service Revenue Date Rent Revenue Date Advertising Expense Date Debit Debit Debit Debit Credit Credit Credit Credit No. 301 38,950 No. 400 Balance Balance Balance Balance No. 429 No. 610 Salaries and Wages Expense Date Rent Expense Date Explanation Ref J1 Explanation Ref J1 J1 Debit Debit Credit Credit Balance Balance No. 726 No. 729 (d) Prepare a trial balance on March 31, 2022 CRANE THEATER Trial Balance For the Quarter Ended March 31, 2022 For the Year Ended March 31, 2022 March 31, 2022 Credit = #