Answer:
Mar. 2 Rented the three Indiana Jones movies to be shown for the first 3 weeks of March. The film rental was $3,000; $1,600 was paid in cash and $1,400 will be paid on March 10.
Dr Movie rental expense 3,000
Cr Cash 1,600
Cr Accounts payable 1,400
3 Ordered the Lord of the Rings movies to be shown the last 10 days of March. It will cost $160 per night.
No journal entry required
9 Received $4,400 cash from admissions.
Dr Cash 4,400
Cr Service revenue 4,400
10 Paid balance due on Indiana Jones movies rental and $2,200 on March 1 accounts payable.
Dr Accounts payable 3,600
Cr cash 3,600
11 Starr Theater contracted with Adam Ladd to operate the concession stand. Ladd is to pay 15% of gross concession receipts, payable monthly, for the rental of the concession stand.
No journal entry required
12 Paid advertising expenses $800.
Dr Advertising expense 800
Cr Cash 800
20 Received $5,500 cash from customers for admissions.
Dr Cash 5,500
Cr Service revenue 5,500
20 Received the Lord of the Rings movies and paid the rental fee of $1,600.
Dr Movie rental expense 1,600
Cr Cash 1,600
31 Paid salaries of $2,900.
Dr Wages expense 2,900
Cr Cash 2,900
31 Received statement from Adam Ladd showing gross receipts from concessions of $5,000 and the balance due to Starr Theater of $750 ($5,000 × 15%) for March. Ladd paid one-half the balance due and will remit the remainder on April 5.
Dr Cash 375
Dr Accounts receivable 375
Cr Concessions revenue 750
31 Received $9,700 cash from customers for admissions.
Dr Cash 9,700
Cr Service revenue 9,700
Since there is not enough room here, I prepared a general ledger in an excel spreadsheet and attached it.
