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Kanesatake Bowling Lanes operates a ten-lane bowling alley in a quiet area of town. The manager recently implemented a marketing campaign in order to increase
Kanesatake Bowling Lanes operates a ten-lane bowling alley in a quiet area of town. The manager recently implemented a marketing campaign in order to increase sales. The campaign resulted in the sale of 100 coupon booklets for $25 each. Each booklet contains six coupons enabling the holder to play six games of bowling. At the time of the sale, the journal entry was a debit to Cash and a credit to Unearned Revenue for $2,500. At the end of the accounting period, the equivalent of 60 coupon booklets had been used. The required adjusting Journal entry would consist of adibit to Canh for $1.500 and a credit to Revenue for $1.500 a credit to Revenue for 51,000 and a debit to Uneamed Revenue for $1.000 a credit to Revenue lor $1.500 and a debit to Unearned Revenue for $1.500 a debit to Revenue for $1.500 and a credit to Unearned Revenue for $1,500
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