On October 31, the Vermillion Igloos Hockey Club received $800,000 in cash in advance for season tickets for eight home games. The transaction was recorded as a debit to Cash and a credit to Unearned Admissions. By December 31, the end of the fiscal year, the team had played three home games and received an additional $450,000 cash admissions income at the gate.

a. Journalize the adjusting entry as of December 31.

GENERAL JOURNAL				PAGE
DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
20--	Adjusting Entries
Dec. 31

b. List the title of the account and the related balance that will appear on the income statement.

$

c. List the title of the account and the related balance that will appear on the balance sheet.

$