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A professional sports team sells 1, 600 season tickets before the season starts. There are 10 games in the season and each season ticket costs
A professional sports team sells 1, 600 season tickets before the season starts. There are 10 games in the season and each season ticket costs an average of $310. A) Assuming the tickets are paid for at the time they are sold, what journal entry should be made for the sale of the season tickets when they are sold before the season starts? B) What effect does this entry have on the accounting equation? C) What journal entry should be made after the first game is played? D) What effect does this entry have on the accounting equation
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