Set up Taccounts for Cash, Unearned Ticket Ravenue, and Ticket Revenue. Post the following two transactions to the appropriate accounts Indicating each transaction by
Set up Taccounts for Cash, Unearned Ticket Ravenue, and Ticket Revenue. Post the following two transactions to the appropriate accounts Indicating each transaction by letter: a. Sold 1,200 season tickets at $400 each, recelving cash of $480,000. b. An end-of-period adjustment is needed to recognize that $120,000 in ticket revenue has been earned, Cash Ticket Revenue Unearned Ticket Revenue
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Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
978-1119191674, 047053477X, 111919167X, 978-0470534779
