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The Shins, a minor league baseball team, prepare financial statements on a monthly basis. Their season begins in April, but in March the team engaged
The Shins, a minor league baseball team, prepare financial statements on a monthly basis. Their season begins in April, but in March the team engaged in the following transactions: (a) On March 1. The Shins paid $210,000 to Kansas City as advance rent for use of Kansas City Stadium for the six month period April 1 through September 30. (b) On March 1", The Shins collected $450,000 cash from sales of season tickets for the team's 20 home games During the month of April, the Shins played four (4) home games Instructions Prepare both the original journal entries and the adjusting journal 30 for the advance rent and sales transactions above. entries required at April SOLUTION TO QUESTION#2 D C a) Original entry at March 1st Adjusting journal entry at April 30th b) Original journal entry at March 1st b) Adjusting journal entry at April 30th
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