The Triquel Theater Inc. was recently formed. It began operations in March 2017. The Triquel is unique in that it will show only triple features of sequential theme movies On March 1, the ledger of The Triquel showed Cash $17,200; Land $39,200; Buildings (concession stand, projection room, ticket booth, and screen) $22,000; Equipment $16,000; Accounts Payable $13,200; and Common Stock $81,200. During the month of March, the following events and transactions occurred: Mar. 2 Rented the first three Star Wars movies (Star Was The Empire Strikes Back, and The Return of the Jedi) to be shown for the first three weeks of March. The film rental was $9,200; $1,800 was paid in cash and $7,400 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 $500 per night. 9 Received $11,000 cash from admissions 10 Paid balance due on Star Wars movies' rental and $2,900 on March 1 accounts payable 11 The Triquel Theater contracted with R. Lazlo to operate the concession stand. Lazio agrees to pay The Triquel 15% of gross receipts, payable monthly, for the rental of the concession stand 12 Paid advertising expenses $530 20 Received $8,100 cash from customers for admissions 20 Received the Star Trek movies and paid rental fee of $5,400 31 Paid salaries of $3,900 31 Received statement from R. Lazlo showing gross receipts from concessions of $12,500 and the balance due to The Triquel of $1,875 ($12,500 x .15) for March Lazlo paid half the balance due for the rental of the concession stand and will remit the remainder on April 5. 31 Received $19,300 cash from customers for admissions. Using T-accounts, enter the beginning balances to the ledger. Cash Land Building:s Equipment Accounts Payable Common Stock Journalize the March transactions. The Triquel 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.) Date Account Titles and Explanation Debit Credit Mar. 31 Post the March journal entries to the ledger. (Post entries in the order of information presented in the question.) Cash Bal 17,200 Accounts Receivable Land Bal 39,200 Buildings Bal. 22,000 Equipment Bal. 16,000 Accounts Payable Bal. 13,200 Common Stock Bal. 81,200 Service Revenue Rent Revenue Advertising Expense Rent Expense Salaries and Wages Expense TRIQUEL THEATER INC. Trial Balance Debit Credit