MS-23. Assessing Revenue Recognition for Advance Payments L03 Hamilton Company operates a performing arts center. The company sells tickets for its upcoming season of six Broadway musicals and receives $630,000 cash. The performances occur monthly over the next six months.

a. When should Hamilton record revenue for the Broadway musical series?

b. Use the financial statement effects template to show the $630,000 cash receipt and recognition of the first month 's revenue.