Fun Ski, Inc., operates a downhill ski area near Lake Tahoe, California. An all-day adult lift ticket can be purchased for $75. 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. Fun Ski 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, year 1, Jake Lawson purchased a season pass for $750. Required: When should Fun Ski recognize revenue from the sale of its season passes? Prepare the appropriate journal entries that Fun Ski would record on November 6 and December 31. What will be included in the Fun Ski year 1 income statement and balance sheet related to the sale of the season pass to Jake Lawson