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Koonce Company operates a performing arts center. The company sells tickets for its upcoming season of six Broadway musicals and receives $540, 000 cash. The
Koonce Company operates a performing arts center. The company sells tickets for its upcoming season of six Broadway musicals and receives $540, 000 cash. The performances occur monthly over the next six months. Use the financial statement effects template to show the $540, 000 cash receipt and recognition of the first months revenue.
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