The Oriole Theater Inc was recently formed It began operations in March 2022 The Oriole is unique in that it will show only triple features of sequential theme movies On March 1, the ledger of The Oriole showed Cash $17,500 Land $37,000 Buildings (concession stand, projection room, ticket booth, and screen) $21,000 Equipment $14,000 Accounts Payable $12,600 and Common Stock $76,900 During the month of March, the following events and transactions occurred Mar 2 Rented the first three Star Wars movies ( Star Wars , The Empire Strikes Back, and The Return of the Jedi ) to be shown for the first three weeks of March The film rental was $13,500 $2,100 was paid in cash and $11,400 will be paid on March 10 3 Ordered the first three Star Trek movies to be shown the last 10 days of March It will cost $800 per night 9 Received $12,000 cash from admissions 10 Paid balance due on Star Wars movies' rental and $2,800 on March 1 accounts payable 11 The Oriole Theater contracted with R Lazlo to operate the concession stand Lazlo agrees to pay The Oriole 15 of gross receipts, payable monthly, for the rental of the concession stand 12 Paid advertising expenses $700 20 Received $9,900 cash from customers for admissions 20 Received the Star Trek movies and paid rental fee of $4,000 31 Paid salaries of $3,400 31 Received statement from R Lazlo showing gross receipts from concessions of $10,800 and the balance due to The Oriole of $1,620 ($10,800 15) for March Lazlo paid half the balance due and will remit the remainder on April 5 31 Received $22,000 cash from customers for admissions Using T accounts, enter the beginning balances to the ledger Cash 3 2 13,500 3 2 2,100 Land 3 9 3 9 3 10 Buildings B 3 10 Equipment 3 10 3 10 Accounts Payable 3 12 3 12 11,400 Common Stock 3 31 3 31 Journalize the March transactions The Oriole records admission revenue as service revenue, concession revenue as sales revenue, and film rental expense as rent expense (If no entry is required, select No entry for the account titles and enter for the amounts Credit account titles are automatically indented when amount is entered Do not indent manually Record journal entries in the order presented in the problem ) Account Titles and Explanation Debit Credit Date Mar 2

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The Oriole Theater Inc. was recently formed. It began operations in March 2022. The Oriole is unique in that it will show only triple features

The Oriole Theater Inc. was recently formed. It began operations in March 2022. The Oriole is unique in that it will show only triple features of sequential theme movies. On March 1, the ledger of The Oriole showed Cash $17,500; Land $37,000; Buildings (concession stand, projection room, ticket booth, and screen) $21,000; Equipment $14,000; Accounts Payable $12,600; and Common Stock $76,900. During the month of March, the following events and transactions occurred:

Mar. 2		Rented the first three Star Wars movies (Star Wars, The Empire Strikes Back, and The Return of the Jedi) to be shown for the first three weeks of March. The film rental was $13,500; $2,100 was paid in cash and $11,400 will be paid on March 10.
3		Ordered the first three Star Trek movies to be shown the last 10 days of March. It will cost $800 per night.
9		Received $12,000 cash from admissions.
10		Paid balance due on Star Wars movies' rental and $2,800 on March 1 accounts payable.
11		The Oriole Theater contracted with R. Lazlo to operate the concession stand. Lazlo agrees to pay The Oriole 15% of gross receipts, payable monthly, for the rental of the concession stand.
12		Paid advertising expenses $700.
20		Received $9,900 cash from customers for admissions.
20		Received the Star Trek movies and paid rental fee of $4,000.
31		Paid salaries of $3,400.
31		Received statement from R. Lazlo showing gross receipts from concessions of $10,800 and the balance due to The Oriole of $1,620 ($10,800 .15) for March. Lazlo paid half the balance due and will remit the remainder on April 5.
31		Received $22,000 cash from customers for admissions.

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Using T-accounts, enter the beginning balances to the ledger. Cash 3/2 13,500 3/2 2,100 Land 3/9 3/9 3/10 Buildings B 3/10 Equipment 3/10 3/10 Accounts Payable 3/12 3/12 11,400 Common Stock 3/31 > 3/31 Journalize the March transactions. The Oriole records admission revenue as service revenue, concession revenue as sales revenue, and film rental expense as rent expense. (If no entry is required, select "No entry"for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation Debit Credit Date Mar. 2