Question
The Baltimore Performing Arts Center sold all $25,000 worth of its tickets to a popular concert a month in advance. The journal entry the Performing
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The Baltimore Performing Arts Center sold all $25,000 worth of its tickets to a popular concert a month in advance. The journal entry the Performing Arts Center would record immediately after the concert ended is:
a. Db. Deferred Revenue $25,000
Cr. Sales Revenue $25,000
b. Db. Deferred Revenue $25,000
Cr. Cash $25,000
c. Db. Cash $25,000
Cr. Sales Revenue $25,000
d. Db. Sales Revenue $25,000
Cr. Deferred Revenue $25,000
The Baltimore Performing Arts Center sold all $25,000 worth of its tickets to a popular concert a month in advance. The journal entry the Performing Arts Center would record immediately after the concert ended is:
| a. | Db. Deferred Revenue $25,000 Cr. Sales Revenue $25,000 | |
| b. | Db. Deferred Revenue $25,000 Cr. Cash $25,000 | |
| c. | Db. Cash $25,000 Cr. Sales Revenue $25,000 | |
| d. | Db. Sales Revenue $25,000 Cr. Deferred Revenue $25,000 |
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Cost Accounting Fundamentals Essential Concepts And Examples
Authors: Steven M. Bragg
3rd Edition
0980069998, 978-0980069990
