Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tannin Bus Co. sold 8,000 tickets on 1/5/2020 at $20 each for four- month period from 1/5/2020 to 31/8/2020. The journal entry for selling the

image text in transcribed

Tannin Bus Co. sold 8,000 tickets on 1/5/2020 at $20 each for four- month period from 1/5/2020 to 31/8/2020. The journal entry for selling the 8,000 tickets on 1/5/2020 is: out of question O a. Debit Cash 160,000 and credit Service revenue 160,000 b. Debit Cash 160,000 and credit Ticket revenue 160,000 Oc. Debit Cash 160,000 and credit Sales revenue 160,000 O d. Debit Cash 160,000 and credit unearned ticket revenue 160,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Trap Doors And Trojan Horses An Auditing Action Adventure

Authors: D. Larry Crumbley, David Kerr, Veronica Paz, Lawrence Smith

1st Edition

1531021573, 978-1531021573

More Books

Students also viewed these Accounting questions