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 adjusting entry on 31/5/2020 is: O

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 adjusting entry on 31/5/2020 is: O a Dr. Ticket revenue 40,000 and Cr, unearned revenue 40,000 b. Dr. Ticket revenue 120,000 and Cr, unearned revenue 120,000 Oc. Dr. Unearned Ticket revenue 40,000 and Cr. Ticket revenue 40,000 Od Dr. Unearned Ticket revenue 120,000 and Cr. Ticket revenue 120,000

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_2

Step: 3

blur-text-image_3

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

Security And Audit Field Manual

Authors: Alex Meyer, Mark Polino

1st Edition

B0B72Q3V4M, 979-8841258483

More Books

Students also viewed these Accounting questions

Question

5. Understand how cultural values influence conflict behavior.

Answered: 1 week ago

Question

8. Explain the relationship between communication and context.

Answered: 1 week ago