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Jerry has a concert company. They have a concert coming up December 15 th , 2021. On October 26 th , 2021 he collects $25,000

Jerry has a concert company. They have a concert coming up December 15th, 2021. On October 26th, 2021 he collects $25,000 in tickets sales in advance of the concert that will take place on December 15th. What journal entry should he recognize on October 26th, 2021?

What journal entry should he recognize on December 15th, 2021 after the concert taxes place?

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