Named in honor of the late Dr. F. C. Phog Allen, the Kansas Jayhawks head coach for 39 years, Allen Fieldhouse is labeled by many as one of the best places in America to watch a college basketball game. Allen Fieldhouse has a seating capacity of 16,300. Assume the basketball arena sells out all 18 home games before the season begins, and the athletic department collects $26,406,000 in ticket sales.1-Record the advance collection of $26,406,000 in ticket sales.2

Record the revenue earned after the first home game is completed. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)