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Alpine West, Inc., operates a downhill ski area near Lake Tahoe, California. An all-day, adult ticket can be purchased for $50. Adult customers also can
Alpine West, Inc., operates a downhill ski area near Lake Tahoe, California. An all-day, adult ticket can be purchased for $50. Adult customers also can purchase a season pass that entitles the pass holder to ski any day during the season, which typically runs from December 1 through April 30. The season pass is nontransferable, and the $470 price is non refundable. Alpine expects its season pass holders to use their passes equally throughout the season. The company's fiscal year ends on December 31. On November 6, 2013, Jake Lawson purchased a season ticket. When should Alpine West recognize revenue from the sale of its season passes? Full amount before the season Equally throughout the season Full amount after the season Prepare the appropriate journal entries that Alpine would record or November 6 and December 31. (If no entry is required for a particular transaction, select ''No journal entry required'' in the first account field. Use months, rather than days, to calculate the earned and unearned revenue amounts.) What will be included in the 2013 income statement and 2013 balance sheet related to the sale of the season pass to Jake Lawson
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