The Whispering Winds Theater opened on April 1. All facilities were completed on March 31. At this time, the ledger showed No. 101 Cash $7,820, No. 140 Land $10,180, No. 145 Buildings (concession stand, projection room, ticket booth, and screen) $6,180, No. 157 Equipment $7,820, No. 201 Accounts Payable $3,820, No. 275 Mortgage Payable $8,180, and No. 311 Common Stock $20,000. During April, the following events and transactions occurred. Apr. 2 Paid film rental of $1,700 on first movie. 3 Ordered two additional films at $1,060 each. 9 Received $2.420 cash from admissions. 10 Made $2,090 payment on mortgage and $1,510 for accounts payable due. 11 12 20 25 29 30 30 Whispering Winds Theater contracted with Dever Company to operate the concession stand. Dever is to pay 18% of gross concession receipts (payable monthly) for the rental of the concession stand. Paid advertising expenses $320. Received one of the films ordered on April 3 and was billed $1,060. The film will be shown in April. Received $6,700 cash from admissions Paid salaries $2.200. Received statement from Dever showing gross concession-receipts of $2,100 and the balance due to the Whispering Winds Theater of $378 ($2.100 x 18%) for April. Dever paid one-half of the balance due and will remit the remainder on May 5 Prepaid $960 rental on special film to be run in May.