Question
3. Buchan Athletic FC have a financial year end of 31 May. On 30 April 20X2 Buchan Athletic FC received 280,000 from the renewal
3. Buchan Athletic FC have a financial year end of 31 May. On 30 April 20X2 Buchan Athletic FC received 280,000 from the renewal of season tickets for the following season, played from September 20X2-23 May 20X3. What should be the accounting entries to record this 280,000 in the year to 31 May 20X2? A. Debit: Bank; Credit: Sales B. Debit: Sales; Credit: Bank C. Debit: Bank; Credit: Deferred Revenue D. Debit: Deferred Revenue; Credit: Bank 4. Apart from Land, what other class of asset is not depreciated or amortised A. Goodwill B. Patents C. Buildings D. Interest
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