Required information [The following information applies to the questions displayed below.] A local theater company sells 1,100 season ticket packages at a price of $240 per package. The first show in the 10-show season starts this week.

(a) The sale of the season tickets before the first show.

(b) The revenue from fulfilling the performance obligation by putting on the first show. Indicate the effects of the amounts for the above transactions. (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign.

1) Indicate the effects of the amounts for the above transactions

assets=	liabilities+	stockholders eq

1b) Prepare the journal entries related for the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

-A local theater company sells 1,100 season ticket packages at a price of $240 per package. Record the sale of the season tickets before the first show.

-A local theater company sells 1,100 season ticket packages at a price of $240 per package. Record the revenue after the first show.