Question
Chicago City College sold season tickets for the 2017 football season for $320,000. A total of 10 games will be played during September, October and
Chicago City College sold season tickets for the 2017 football season for $320,000. A total of 10 games will be played during September, October and November. In September, three games were played. The adjusting journal entry at September 30
a. is not required. No adjusting entries will be made until the end of the season in November.
b. will include a debit to Cash and a credit to Ticket Revenue for $320,000.
c. will include a debit to Unearned Ticket Revenue and a credit to Ticket Revenue for $120,000.
d. will include a debit to Ticket Revenue and a credit to Unearned Ticket Revenue for $96,000.
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Smoke And Mirrors Inc Accounting For Capitalism
Authors: Nicolas Vron, Matthieu Autret, Alfred Galichon, George Holoch
1st Edition
0801444160, 978-0801444166
