Question
MyTickets Inc. facilitates the purchase of concert tickets to customers through its vast social media network. MyTickets Inc. has access to blocks of tickets from
MyTickets Inc. facilitates the purchase of concert tickets to customers through its vast social media network. MyTickets Inc. has access to blocks of tickets from a large number of vendors that are advertised through its network. When a customer purchases a ticket, MyTickets Inc. electronically forwards the payment to the vendor, less a commission of 15%. Any issues with the performances associated with the tickets are managed by the vendors. In March, MyTickets Inc. sold tickets worth $45,000, of which $8,000 of the concerts have not yet taken place.
Determine (1) the type of complex revenue arrangement, and (2) how much revenue MyTickets Inc. reports in March.
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