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 $19,900; Land $41,900; Buildings (concession stand, projection room, ticket booth, and screen) $22,000; Equipment $16,000; Accounts Payable $15,900; and Common Stock $ 83,900. 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 $ 9,500; $1,600 was paid in cash and $7,900 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 $ 10,600 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. Lazio 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 $450 20 Received $ 8,800 cash from customers for admission:s 20 Received the Star Trek movies and paid rental fee of $5,800 31 Paid salaries of $ 3,700 31 Received statement from R. Lazlo showing gross receipts from concessions of $ 12,600 and the balance due to The Triquel of $ 1,890 ($ 12,600 .15) for March, Lazio paid half the balance due for the rental of the concession stand and will remit the remainder on April 5 Received $ 19,500 cash from customers for admissions. 31 Cash Bal 19,900| 3/2 # 1600 3/9 10600 3/10 10800 3/20 8800 3/12 450 3/31 19500 3/20 5800 3/31 945 3/31 3700 59745 Accounts Receivable 3/31 3/31 Land Bal 41,9003/31 Buildings Bal 22,000 Equipment Bal. 16,000 Accounts Payable Bal 15,900 TRIQUEL THEATER INC. Trial Balance March 31, 2017 Debit Credit