The following is a list of accounts and their balances (in dollars) for Speedy Service Inc. as at the end of their fiscal year, July 31, 2018. The accounts are presented in alphabetical order.

9,500Accounts Payable

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14,000Accounts Receivable

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21,400Accumulated Depreciation - Equipment

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39,000Bank Loan Payable, due 2022

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8,000Cash

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38,000Common Shares

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9,700Depreciation Expense

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800Dividends Declared

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99,000Equipment

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20,000Investments

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3,000Income Tax Expense

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1,800Insurance Expense

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3,600Interest Expense

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200Prepaid Insurance

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9,000Rent Expense

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10,450Repairs and Maintenance Expense

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20,850Retained Earnings

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25,000Salaries Expense

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800Salaries Payable

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75,000Service Revenue

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Additional information: All accounts have a normal balance. During the year, the company issued common shares for $11,000.

On February 28, 2018, Star Theatre Inc.'s general ledger showed Cash $15,000; Land $85,000; Buildings $77,000; Equipment $20,000; Accounts Payable $12,000; Mortgage Payable $118,000; Common Shares $40,000; and Retained Earnings $27,000. During the month of March, the following transactions occurred:

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Mar 1: Received three movies to be shown during the first 3 weeks of March. The film rental was $27,000. Of that amount, $10,000 was paid in cash and the remainder was on account. (Hint: Star Theatre uses the account Rent Expense to record film rentals).

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Mar 2: Hired Brewer Co. to operate concession stand. Brewer agrees to pay Star Theatre 15% of gross receipts (Brewer Co. keeps the rest of the concession revenue), payable on the last day of each month, for the right to operate a concession stand. (Hint: Star Theatre uses the account Concession Revenue to record concession receipts earned.)

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Mar 5: Ordered three additional movies, to be shown the last 10 days of March. The film rental cost will be $300 per night.

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Mar 12: Paid balance due on the movies rented on March 1.

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Mar 13: Paid the accounts payable owing at the end of February

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Mar 15: Received $25,500 from customers for admission for the first half of the month. (Hint: Star Theatre uses the account Fees Earned to record revenue from admissions.)

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Mar 19: Paid advertising expenses of $950.

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Mar 20: Received the movies ordered on March 5 and paid rental fee of $3,000 ($300 x 10 nights)

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Mar 23: Paid Salaries of $4,200

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Mar 26: Paid $1,250 of the balance due on the mortgage, as well as $750 of interest on the mortgage.

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Mar 28: Paid $3,000 for the monthly Income Tax instalment.

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Mar 30: Received statement from Brewer Co., showing gross concession receipts of $16,600, and the balance due to Star Theatre of $2,490 ($16,600 x 15%) for March. Brewer paid half of the balance due and will remit the remainder on April 5.

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Mar 31 Received $25,800 from customers for admissions for the past two weeks.

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Your instructions are to create in proper format:

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a. The journal entries for each transaction. Note, if the event does not represent an accounting transaction, you would enter 'NO ENTRY' next to the date of the entry, so I know you haven't skipped it by mistake. (30 marks)

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b. T Accounts, showing the beginning balances of the ledger as of February 28. Post the March journal entries and calculate closing balances as of March 31 (10 marks)

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c. a Trial Balance (10 marks)

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Your answers must be in Excel or PDF format.