The Triquel Theater Inc. was recently formed. It began operations in March 2025. 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 \(\$ 16,000\), Land \(\$ 38,000\), Buildings (concession stand, projection room, ticket booth, and screen) \(\$ 22,000\), Equipment \(\$ 16,000\), Accounts Payable \(\$ 12,000\), and Common Stock \(\$ 80,000\). During the month of March, the following events and transactions occurred.

Mar. 2 Rented the first three Star Wars movies (Star Wars \({ }^{\otimes}\), The Empire Strikes Back, and The Return of the Jedi) to be shown for the first three weeks of March. The film rental was \(\$ 10,000 ; \$ 2,000\) was paid in cash and \(\$ 8,000\) 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 \(\$ 9,900\) 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 \(\$ 500\).
20 Received \(\$ 8,300\) cash from customers for admissions.
20 Received the Star Trek movies and paid rental fee of \(\$ 5,000\).
31 Paid salaries of \(\$ 3,800\).
31 Received statement from R. Lazlo showing gross receipts from concessions of \(\$ 10,000\) and the balance due to The Triquel of \(\$ 1,500(\$ 10,000 \times .15)\) for March. Lazlo paid half the balance due for rental of the concession stand and will remit the remainder on April 5.
31 Received \(\$ 20,000\) cash from customers for admissions.
In addition to the accounts identified above, the chart of accounts includes Accounts Receivable, Service Revenue, Rent Revenue, Advertising Expense, Rent Expense, and Salaries and Wages Expense.

Instructions

a. Using T-accounts, enter the beginning balances to the ledger.

b. Journalize the March transactions, including explanations. The Triquel records admission revenue as service revenue, concession revenue as rent revenue, and film rental expense as rent expense.

c. Post the March journal entries to the ledger.

d. Prepare a trial balance on March 31, 2025.