A transit company offers special transit passes to local students. The passes are sold for $168 each and for the fall semester are good from September 1 to December 31 (i.e. the passes cost $42 per month). The transit company sold 1,000 passes on August 1.

Do not enter dollar signs or commas in the input boxes. Record the journal entry for the following. a) The sale of the passes b) The entry to be recorded on September 30

Date Account Title and Explanation Debit Credit Aug 1 Cash X Unearned Revenue X To record the sale of transit passes Sep 30 Unearned Revenue X Sales Revenue X To recognize revenue earned for the month