Required information [The following information applies to the questions displayed below.] Kirkland Theater sells season tickets for six events at a price of $48. For the 2019 season, 4,820 season tickets were sold. Required: a-1. Use the horizontal model to show the effect of the sale of the season tickets. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Assets = Balance Sheet Liabilities Income Statement + Stockholders' Equity Net Income Revenues Expenses + ! Required information [The following information applies to the questions displayed below.] Kirkland Theater sells season tickets for six events at a price of $48. For the 2019 season, 4,820 season tickets were sold. a-2. Record the journal entry to show the effect of the sale of the season tickets. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the cash collection for season ticket sales made in advance. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry View general journal Required information [The following information applies to the questions displayed below.] Kirkland Theater sells season tickets for six events at a price of $48. For the 2019 season, 4,820 season tickets were sold. b-2. Record the journal entry to show the effect of presenting an event. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record revenues earned for presenting an event. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry View general journal ! Required information [The following information applies to the questions displayed below.] Kirkland Theater sells season tickets for six events at a price of $48. For the 2019 season, 4,820 season tickets were sold. c. Where on the balance sheet would the account balance representing funds received for performances not yet presented be classified? Multiple Choice Current liability Current asset