The University of Michigan football stadium, built in 1927, is the largest college stadium in America, with a seating capacity of 107,000 fans. Assume the stadium sells out all 10 home games before the season begins, and the athletic department collects $65.0 million in ticket sales.

10. value: 10.00 points

Required: 1.

What is the average price per season ticket and average price per individual game ticket sold? (Enter your answers in dollars not in millions. Round your answers to the nearest dollar amount. Omit the "$" sign in your response.)

Season ticket $

Individual game ticket $

11. value: 10.00 points

2.

Record the advance collection of $65.0 million in ticket sales. (Enter your answers in dollars not in millions. Omit the "$" sign in your response.)

General Journal Debit Credit (Click to select) Cash Accounts payable Service revenue Notes receivable Interest payable Accounts receivable Unearned revenue Sales revenue (Click to select) Interest payable Notes receivable Service revenue Cash Sales revenue Unearned revenue Accounts payable Accounts receivable

12. value: 10.00 points

3.

Record the revenue earned after the first home game is completed. (Enter your answers in dollars not in millions. Do not round 'season ticket' and 'individual game ticket' values in calculations. Omit the "$" sign in your response.)

General Journal Debit Credit (Click to select) Accounts payable Service revenue Sales revenue Unearned revenue Notes receivable Accounts receivable Cash Interest payable (Click to select) Sales revenue Notes payable Accounts receivable Interest payable Cash Unearned revenue Accounts payable Notes receivable