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2) Complete the journal entries: a) An airline collected $100,000 in 2020 for sales of tickets for future flights. The airline will complete 40%

2) Complete the journal entries: a) An airline collected $100,000 in 2020 for sales of tickets for future flights. The airline will complete 40% of the flights related to the ticket sals in 2020. The remaining tickets will complete in 2021. Prepare the journal entry to record the sale of the tickets in 2020. Calculate the balance in the Deferred Revenue account at the end of 2020.

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