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Ticketsales, Incorporated, recelves $7,160,000 cash in advance ticket sales for a four-date tour of Bon Jovi, Record the advance tick sales on October 31. Record the revenue earned for the first concert date of November 5, assuming it represents one-fourth of the advance ticket sales. Ticketsales, Incorporated initially records prepaid and unearned items in balance sheet accounts. Journal entry worksheet 2 Record the cash receipt in advance of concerts. Note: Enter debits before credits