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The Windsor Theater will begin operations in March. The Windsor will be unique in that it will show only triple features of sequential theme movies.

The Windsor Theater will begin operations in March. The Windsor will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Windsor showed No. 101 Cash 2,910, No. 140 Land 23,280, No. 145 Buildings (concession stand, projection room, ticket booth, and screen) 9,700, No. 157 Equipment 9,700, No. 201 Accounts Payable 6,790, and No. 311 Share CapitalOrdinary 38,800. During the month of March, the following events and transactions occurred (amounts in thousands).

Mar. 2 Rented the three Kung Fu Panda movies to be shown for the first 3 weeks of March. The film rental was 3,395; 1,455 was paid in cash and 1,940 will be paid on March 10.
3 Ordered three Batman movies to be shown the last 10 days of March. It will cost 194 per night.
9 Received 4,171 cash from admissions.
10 Paid balance due on Kung Fu Panda movies rental and 2,037 on March 1 accounts payable.
11 Windsor Theater contracted with So Bin to operate the concession stand. Bin is to pay 15% of gross concession receipts, payable monthly, for the rental of the concession stand.
12 Paid advertising expenses 873.
20 Received 4,850 cash from customers for admissions.
20 Received the Batman movies and paid the rental fee of 1,940.
31 Paid salaries of 3,007.
31 Received statement from So Bin showing gross receipts from concessions of 4,160 and the balance due to Starr Theater of 624 (4,160 15%) for March. Bin paid one-half the balance due and will remit the remainder on April 5.
31 Received 8,730 cash from customers for admissions.

In addition to the accounts identified above, the chart of accounts includes No. 112 Accounts Receivable, No. 400 Service Revenue, No. 429 Rent Revenue, No. 610 Advertising Expense, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.

- Enter the beginning balances in the ledger

- Journalize the March transactions. Windsor records admission revenue as service revenue, rental of the concession stand as rent revenue, and film rental expense as rent expense.

- Post the March journal entries to the ledger.

- Prepare a trial balance on March 31, 2020.

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