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need help with # 1 1 On 9/1/19, Chancelors Performance Company received $480,000 in advance payments for 2 year open admissions to its monthly concerts

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1 On 9/1/19, Chancelors Performance Company received $480,000 in advance payments for 2 year open admissions to its monthly concerts and recorded the entire amount as Performance Revenue. What adjustment wit Chancelors need to make at 12/31/19? What adjustment will Chancelors make at 12/31/20

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