Ski West, Incorporated, operates a downhill ski area near Lake Tahoe, California. An all$-$day adult lift ticket can be purchased for $$60.$ 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 $6,2024,$ Jake Lawson purchased a season pass for $$330.$

Required:

When should Ski West recognize revenue from the sale of its season passes?

Prepare the appropriate journal entries that Ski West would record on November $6$ and December $31.$

What will be included in the Ski West $2024$ 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.

Required $1$

Required $2$

Required $3$

What will be included in the Ski West $2024$ income statement and balance sheet related to the sale of the season pass to Jake Lawson?

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Journal entry worksheet

$1$

$2$

Record the cash collection.

Note: Enter debits before credits.

Journal entry worksheet

$1$

$2$

Record the recognition of revenue earned in December.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[\backslash$table$[[$December $31,],[2024]],,-,],[,,,],[$re$,,,],[87,119,,],[,$H$.,,],[,,,]]$