On April 15, 2012, Riaito Theater sold $90,000 in tickets for the summer musicals to be performed

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On April 15, 2012, Riaito Theater sold $90,000 in tickets for the summer musicals to be performed (one per month) during June, July, and August. On July 15, 2012, for receipt of ticket fees, discovered that the group that was to perform the July and August musicals could not do so.

It was too late to find another group qualified to perform the musicals. A decision was made revenue, and refund to refund the remaining unearned ticket revenue to its ticket holders, and this was done on of fees(L.O. 4)

July 20. Show the appropriate journal entries to be made on April 15, June 30, and July 20.

Rialto has a June 30th year-end.

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