The Centurions baseball team sells a package of tickets for 55 games online for $5,500. Fans can purchase the tickets at any time, through their credit cards, although the season doesn't officially begin until April. It runs from April through October. The company has a bank line of credit based on revenues. The year end is June 30^th. Revenue was recorded at time of sale.

INSTRUCTIONS

1. Assume the company follows ASPE, provide a GAAP supported-case specific analysis. Remember to provide a supported recommendation and AJE if applicable.

2. Assume the company follows IFRS, provide a GAAP supported-case specific analysis. Remember to provide a supported recommendation and AJE if applicable.

Respond in complete sentences with correct spelling and grammar. Your response must be understandable.