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Concord University sells 4,200 season basketball tickets at $80 each for its 20-game home schedule. Prepare a tabular summary to record (a) the sale


Concord University sells 4,200 season basketball tickets at $80 each for its 20-game home schedule. Prepare a tabular summary to record (a) the sale of the season tickets and (b) the revenue recognized after playing the first home game. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Cash Unearned Ticket Revenue Common Stock Revenue %3D (a) $ 2$ 24 $ (b) Stockholders' Equity Retained Earnings Revenue Expense Dividend 2$ $ $ Interest expense Miscellaneous expense Sales revenue Ticket revenue

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