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Quitstion $1$

The World Cup received $$500,000$ in advance ticket sales at the beginning of October for the International World event in

During November $\frac{2}{5}$ of the games occur and the remaining games happen in December.

a$)$ What is the journal entry to record the receipt of $$500,000$ at the start of October? $(2\mathrm{.}5$ marks$)$

b$)$ What is the joumal entry at the end of November and December? $(5$ marks$)$

c$)$ What is the ending balance in the unearned revenue account at December $31?(1$ mark$)$