Question
Sheridan City College sold season tickets for the 2020 football season for $312000. A total of 8 games will be played during September, October and
Sheridan City College sold season tickets for the 2020 football season for $312000. A total of 8 games will be played during September, October and November. In September, three games were played. The adjusting journal entry at September 30
will include a debit to Ticket Revenue and a credit to Unearned Ticket Revenue for $104000.
will include a debit to Unearned Ticket Revenue and a credit to Ticket Revenue for $117000.
is not required. No adjusting entries will be made until the end of the season in November.
will include a debit to Cash and a credit to Ticket Revenue for $78000.
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