The Tuba Theater, owned by Megan, will begin operations in March. The Tuba will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Tuba showed: No. 101 Cash $ 4800, No. 140 Land $27,000, No. 145 Buildings (concession stand, projection room, ticket booth, and screen) $9,000, No. 157 Equipment $15,000, No. 201 Accounts Payable $8,000, and No. 301 Owner’s Capital $39,000.
During the month of March, the following events and transactions occurred.
Mar-2. Rented the two John Wick movies to be shown for the first 3 weeks of
March. The film rental was $5,500; $3,500 was paid in cash and $2,000 will be
paid on March 10.
Mar-3 Ordered the Avengers movies to be shown the last 10 days of March. It
will cost $300 per night.
Mar-9 Received $5,300 cash from admissions.
Mar-10 Paid balance due on John Wicks movies rental and $2,100 on March 1
accounts payable.
Mar-11 Tuba Theater contracted with Arnob to operate the concession stand.
Arnob is to pay 15% of gross concession receipts, payable monthly, for the
rental of the concession stand.
Mar-12 Paid advertising expenses $100.
Mar-20 Received $7,000 cash from customers for admissions.
Mar-20 Received the Avengers movies and paid the rental fee of $2,000.
Mar-31 Paid salaries of $3,100.

Mar-31 Received statement from Arnob showing gross receipts from concessions of
$6,000 and the balance due to Tuba Theater of $900 ($6,000 3 15%) for March.
Arnob paid one-half the balance due and will remit the remainder on April 5.
Mar-31 Received $5,000 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.
Instructions
Journalize the March transactions