QS 11-4 (Algo) Unearned revenue LO C2 Ticketsales, Incorporated, receives $5,080,000 cash in advance ticket sales for a four-date tour of Bon Jovi. Record the advance ticket 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. View transaction list Journal entry worksheet < 1 2 Record the cash receipt in advance of concerts. Note: Enter debits before credits. Date October 31 General Journal Debit Credit Record entry Clear entry View general journal >