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 $20,200; Land $42,200; Buildings (concession stand, projection room, ticket booth, and screen) $22,000; Equipment $16,000; Accounts Payable $16,200; and Common Stock $84,200. 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 $9,900; $2,500 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 $9,600 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. Lazlo to operate the concession stand. Lazlo agrees to pay The Triquel 15% of gross receipts, payable monthly, for the rental of the concession stand 12 Paid advertising expenses $470 20 Received $8,000 cash from customers for admissions 20 Received the Star Trek movies and paid rental fee of $4,300 31 Paid salaries of $3,900 31 Received statement from R. Lazio showing gross receipts from concessions of $10,000 and the balance due to The Triquel of $1,500 ($10,000 .15) for March. Lazio 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. Post the March journal entries to the ledger. (Post entries in the order of information presented in the question.) Cash Bal 20,200 3/2 2500 9600 3/10 v 10300 3/20 8000 3/12 470 4300 19300 3/31 3900 Bal. V 36380 Accounts Receivable 3/31 750 Bal. 750 Land a/1 2.20 Bal Bal. 42200 Buildings a/1 2.000 Bal Bal.v 22000 Equipment 3/1 Bal. 16,000 Bal. v 16000 Accounts Payable 3/10 10300 |3/1 Bal 16,200 7400 Bal. 13300 Common Stock Bal 84,200 Bal. 84200 Service Revenue 3/9 3/20 3/31 9600 8000 19300 Bal. 36900 Rent Revenue 3/31 750 Bal. 750 Advertising Expense 3/12 470 Bal. v 470 Rent Expense 3/2 2500 7400 3120 43000 Bal. 14200 Salaries and Wages Expense 3/31 v 3900 Bal. v 3900