A local theater company sells 1,500 season ticket packages at a price of $250 per package. The first show in the 10-show season starts this week.

(a) The sale of the season tickets before the first show.

(b) The revenue from fulfilling the performance obligation by putting on the first show.

M10-1 (Static) Part 1

Indicate the effects of the amounts for the above transactions. (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign.)