The Star Theatre, Inc. is unique as it shows only triple features of sequential theme movies. As at February 29, 2012, the Star’s general ledger showed Cash $15,660; Land $85,830; Buildings (concession stand, projection room, ticket booth, and screen) $77,740; Equipment $20,430; Accounts Payable $11,690; Mortgage Payable $125,710; Common Shares $40,740; and Retained Earnings $21,521.

During the month of March, the following events and transactions occurred:
Mar. 2 Received three Harry Potter movies to be shown during the first three weeks of March. The film rental was $27,970. Of that amount, $10,910 was paid in cash and the remainder will be paid on March 10.
2 Hired M. Brewer to operate concession stand. Brewer agrees to pay Star Theatre 15% of gross receipts, payable on the last day of each month, for the right to operate the concession stand.
5 Ordered three Shrek movies, to be shown the last 10 days of March. The film rental cost is $290 per night.
9 Received $16,710 from customers for admissions.
12 Paid balance due on the Harry Potter movie rentals.
13 Paid the accounts payable owing at the end of February.
19 Paid advertising expenses, $930.
20 Received $16,970 from customers for admissions.
23 Received the Shrek movies and paid rental fee of $2,900 ($290 × 10 nights).
25 Received $19,080 from customers for admissions.
27 Paid salaries of $4,360.
30 Received statement from M. Brewer, showing gross concession receipts of $8,900, and the balance due to Star Theatre of $1,335 for March. Brewer paid half of the balance due and will remit the remainder on April 5.
30 Paid $2,000 of mortgage principal and $860 of interest on the mortgage.

(a) Journalize the March transactions.
(b) Using T accounts, enter the beginning balances in the ledger as at February 29 and post the March journal entries to the ledger.
(c) Prepare a trial balance at March 31, 2012.