QS 9-4 (Static) Unearned revenue LO C2 Ticketsales, Incorporated, receives $5,000,000 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.