The Cullumber Theater Ine. was recently formed. It began operations in March 2025. The Cullumber is unique in that it will show only triple features of sequential theme movies. On March 1, the ledger of The Cullumber showed Cash \$15,500, Land \$35,000, Building fconcession stand, projection room. ticket booth, and screen) \$23,000, Equipment \$18,000. Accounts Payable \$12.500, and Common Stock $79,000 During the month of March, the following events and transactions occurred: Mar, 2 Rented the first three Star Wars movies (5tar Wars", The Empire Strikes Back, and The Return of the Jed) to be shown for the first three weeks of March. The film rental was $12,000;$1,700 was paid in cash and $10,300 will be paid on March 10 3 Ordered the first three 5 tor Trek movies to be shown the lant 10 days of March. It will cost $700 per night. 9 Received $11,900 cash from admissions: 10 Paid balance due on Star Wors movies' rental and \$2,800 on March 1 accounts payable. 11 The Cullumber Theater contracted with R Lazlo to operate the concession stand. Lazlo agrees to pay The Cullumber 15% of gross receipts, payable monthly, for the rental of the concession stand. 12 Paid advertising expenses $700. 20 Received $9,900 cash from customers for admissions. 20 Recelved the Star Trek movies and paid rental fee of $7,000. 31 Paid salaries of $3,500 31 Received statement from R. Lazio showing gross receipts from concessions of $11,000 and the balance due to The Cullumber of $1,650($11,000.15) for March. Lazko paid half the balance due for rental of the concession stand and will remit the remainder on A pril 5 . 31 Received $23,500 cash from customers for admissions. (Received cash for admissions) (Paid film rental) (Paidsalaries expense) (Received cash and balance on account for concessions)