Adjustment for Unearned Revenues Using T accounts

Set up T accounts for Cash, Unearned Ticket Revenue, and Ticket Revenue. Post the following two transactions to the appropriate accounts, indicating each transaction by letter:

1. Sold 1,285 season tickets at $24 each, receiving cash of $30,840.
2. An end-of-period adjustment is needed to recognize that $23,976 in ticket revenue has been earned.