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The Waterway Theater, owned by Meg Vargo, will begin operations in March. The Waterway will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Waterway showed: No. 101 Cash $34,450, No. 157 Equipment $12,100, No. 201 Accounts Payable $5,800, and No. 301 Owners Capital $40,750. During the month of March, the following events and transactions occurred.

Mar. 2		Rented the three Indiana Jones movies to be shown for the first 3 weeks of March. The film rental was $3,600; $1,910 was paid in cash and $1,690 will be paid on March 10.
3		Ordered the Lord of the Rings movies to be shown the last 10 days of March. It will cost $220 per night.
9		Received $4,995 cash from admissions.
10		Paid balance due on Indiana Jones movies rental and $2,115 on March 1 accounts payable.
12		Paid advertising expenses $870.
20		Received $5,335 cash from customers for admissions.
20		Received the Lord of the Rings movies and paid the rental fee of $2,200.
31		Paid salaries of $3,280.
31		Received $9,450 cash from customers for admissions.
31		Paid $20,700 for building rental.

In addition to the accounts identified above, the chart of accounts includes No. 400 Service Revenue, No. 610 Advertising Expense, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.

Enter the beginning balances in the ledger. Cash Date Explanation Mar. 1 Balance No. 101 Balance Ref Debit Credit No. 157 Equipment Date Explanation Ref Debit Credit Balance Mar. 1 Balance Accounts Payable Date Explanation No. 201 Balance Ref Debit Credit Mar. 1 Balance Owner's Capital Date Explanation No. 301 Balance Ref Debit Credit Mar. 1 Balance No. 400 Service Revenue Date Explanation Ref Debit Credit Balance Mar. 1 Balance Advertising Expense Date Explanation No. 610 Balance Ref Debit Credit Mar. 1 Balance Salaries and Wages Expense Date Explanation No. 726 Balance Ref Debit Credit Mar. 1 Balance Rent Expense Date Explanation No. 729 Balance Ref Debit Credit Mar. 1 Balance Date Account Titles and Explanation Debit Credit (Rented films for cash and on account) (Ordered movies) (Received cash for services performed) V (Paid creditors on account) (Paid advertising expense) (Received cash for services performed) (Paid advertising expense) (Received cash for services performed) (Paid film rental) (Paid salaries expense) (Received cash for services performed) (Paid for building rent) No. 101 Cash Date Explanation Ref Mar. 1 Balance Debit Credit Balance 34,450 J1 J1 J1 J1 J1 J1 J1 J1 J1 NO. 1571 Ref Debit Credit Balance 12,100

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