Investment Research Associates - Page 119

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              The following journal entries demonstrate the convoluted                
         accounting Kanter engaged in to record the transactions on its               
         books:                                                                       
              AJE 08: To record payment of Int'l Films $507,708 receivable            
         by receipt of 10 receivables from Int'l Films:                               
                                             Debit          Credit                    
         N/R Safari Trust                   $62,550                                   
         N/R CMB Cinema Trust               44,887                                    
         N/R CMB Cinema Trust II            10,594                                    
         N/R RWL Cinema Trust               13,660                                    
         N/R RWL Cinema Trust II            43,101                                    
         N/R HGA Cinema Trust               84,942                                    
         N/R Elk Inv.                       48,604                                    
         N/R Inter Alia                     79,418                                    
         N/R Hargen, Karen & Steve          5,083                                     
         N/R HELO                           114,870                                   
         N/R Int'l Films                                    $507,708                  

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