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Advance Payment for Services The Whitney Bluebirds football team sells a 15-game season ticket for $180. Assume that the team sells 2,000 season tickets on
Advance Payment for Services The Whitney Bluebirds football team sells a 15-game season ticket for $180. Assume that the team sells 2,000 season tickets on August 10. The tickets are all used for admission. a. Prepare a journal entry to record the sale of the season tickets on August 10. b. Prepare a journal entry to record one game of earned revenue on September 12. Round all answers to the nearest dollar. a. Date General Journal Description $ Debit Credit Aug. 10 Cash 180,000 x $ Unearned Ticket Revenue 0 1,800,000 x To record season tickets sales. b. General Journal Date Description Sept.12 Unearned Ticket Revenue $ Debit Credit 12,000 X $ 0 Ticket Revenue 0 12,000 x To record ticket revenue earned. To
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