Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Appalachian State sold 1,500 season tickets at $100 each for its four-game home schedule. After each game is sold, ASU should record what journal
Appalachian State sold 1,500 season tickets at $100 each for its four-game home schedule. After each game is sold, ASU should record what journal entry? Select one: O a. Dr. Cash $150,000. Cr. Unearned Ticket Revenue $150,000 O b. Dr. Unearned Ticket Revenue $37,500. Cr. Ticket Revenue $37,500 c. Dr. Ticket Revenue $37,500. Cr. Unearned Ticket Revenue $37,500 O d. Dr. Ticket Revenue $15,000. Cr. Unearned Ticket Revenue $15,000 Apple Restaurant pays Sam $20 per hour. Sam is an employee of Apple. During the week Sam worked 60 hours. Sam's take home pay for this week is $1,200. Select one: O a. True O b. False Bloom, Inc. issued 200, 10-year, 6%, $1,000 bonds dated January 1, 2019, at face value. The interest is payable annually on January 1st. What is the entry to record the payment of the bond interest that had previously been accrued on December 31, 2019. (in other words on January 1 2020 Bloom is paying the interest that recorded in an adjusting journal entry at the end of 2019.) Select one: a. Dr. $Cash 12,000. Cr. Interest Expense $12,000 O b. Dr. Interest Payable $12,000. Cr. Interest Expense $12,000 c. Dr. Interest payable $12,000. Cr. Cash $12,000 O d. Dr. Cash $6,000. Cr. Interest Payable $6,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started