Kirkland Theater sells season tickets for six events at a price of $79. In pricing the tickets, the planners assigned the leadoff event a value of $25 because the program was an expensive symphony orchestra. The last five events were priced equally; 1,230 season tickets were sold for the 2016 season. Required: a. Calculate the theater's earned revenue after the first three events have been presented. (Do not round intermediate calculations.)

Revenue earned:

b. About 91% of the season ticket holders attended the first event. Subsequent events were attended by about 79% of the season ticket holders. Would the attendance data impact revenue recognition?

multiple choice

• Yes

• No