The Lunt Theater, owned by Beth Saxena, will begin operations in March. The Lunt will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Lunt showed: Cash $3,080, Land $24,700, Buildings (concession stand, projection room, ticket booth, and screen) $11,300, Equipment $11,300, Accounts Payable $6,400, and Owners Capital $43,980. 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 $3,400; $1,400 was paid in cash and $2,000 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 $190 per night.
9		Received $4,040 cash from admissions.
10		Paid balance due on Indiana Jones movies rental and $2,100 on March 1 accounts payable.
11		Lunt Theater contracted with John Blume to operate the concession stand. Blume is to pay 15% of gross concession receipts, payable monthly, for the rental of the concession stand.
12		Paid advertising expenses $830.
20		Received $5,310 cash from customers for admissions.
20		Received the Lord of the Rings movies and paid the rental fee of $1,900.
31		Paid salaries of $2,500.
31		Received statement from John Blume showing gross receipts from concessions of $6,000 and the balance due to Lunt Theater of $900 ($6,000 15%) for March. Blume paid one-half the balance due and will remit the remainder on April 5.
31		Received $9,650 cash from customers for admissions