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JetStar is an airline that has been affected by the Covid-19 pandemic. In January 2020. Mr Disney paid $6,000 to take his family to Thailand

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JetStar is an airline that has been affected by the Covid-19 pandemic. In January 2020. Mr Disney paid $6,000 to take his family to Thailand for a holiday in April 2020. However, the flight was cancelled and instead of giving a refund to Mr Disney, Jetstar Ltd offered a voucher to take the flight at a later time. Required: 6) Suppose the journal entry to record the transaction was: Debit Cash $6,000 Credit Revenue $6,000 (Recording of cash sale for flight in April). Explain why this journal entry is not completely correct. (i) Discuss why JetStar may have been reluctant to pay a refund but instead provided a voucher for flights to be taken at a later time

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