Ski West, inc, operates a downhill ski area near Lake Tahoe, California. An all-day adult lift ticket can be purchased for $95. Adult customers also can purchase a season pass that entitles the pass holder to ski any day during the season, which typically runs from December 1 through April 30 . Ski West expects its season pass holders to use their passes equally throughout the season. The company's fiscal year ends on December 31 . On November 6, 2021, Jake Lawson purchased a season pass for $495 Required: 1. When should Ski West recognize revenue from the sale of its season passes? 2. Prepare the appropriate journal entries that Ski West would record on November 6 and Deceriber 31. 3. What will be included in the Ski West 2021 income statement and balance sheet related to the sale of the season pass to Jake Lawson? Complete this question by entering your answers in the tabs below. When should Ski West recognize revenue from the sale of its season passes? Complete this question by entering your answers in the tabs below. When should Ski West recognize revenue from the sale of its season passes? Journal entry worksheet Record the cash collection. Note: Enter debits before credits. Record the recognition of revenue earned in December. Note: Enter debits before credits. What will be included in the Ski West 2021 income statement and balance sheet related to the sale of the season pass to Jake Lawson