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The Oriole Theater Inc. was recently formed. It began operations in March 2 0 2 2 . The Oriole is unique in that it will
The Oriole Theater Inc. was recently formed. It began operations in March The Oriole is unique in that it will show only triple features of sequential theme movies. On March the ledger of The Oriole showed Cash $; Land $; Buildings concession stand, projection room, ticket booth, and screen $; Equipment $; Accounts Payable $; and Common Stock $ During the month of March, the following events and transactions occurred:
Mar. 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 $;$ was paid in cash and $ will be paid on March
Ordered the first three Star Trek movies to be shown the last days of March. It will cost $ per night.
Received $ cash from admissions.
Paid balance due on Star Wars movies' rental and $ on March accounts payable.
The Oriole Theater contracted with R Lazlo to operate the concession stand. Lazlo agrees to pay The Oriole of gross receipts, payable monthly, for the rental of the concession stand.
Paid advertising expenses $
Received $ cash from customers for admissions.
Received the Star Trek movies and paid rental fee of $
Paid salaries of $
Received statement from R Lazlo showing gross receipts from concessions of $ and the balance due to The Oriole of $$ for March. Lazlo paid half the balance due for the rental of the concession stand and will remit the remainder on April
Received $ cash from customers for admissions. Journalize the March transactions. The Oriole records admission revenue as service revenue, concession revenue as rent revenue, and film rental expense as rent expense. If no entry is required, select No entry" for the account titles and enter O 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.
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