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The University of Michigan football stadium, built in 1927, is the largest college stadium In America, with a seating capacity of 106,000 fans. Assume

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The University of Michigan football stadium, built in 1927, is the largest college stadium In America, with a seating capacity of 106,000 fans. Assume the stadium sells out all six home games before the season begins, and the athletic department collects $108.12 million In ticket sales. 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 (l.e. $5.5 million should be entered as 5,500,000).) Per season ticket Per individual game ticket 2. & 3. Record the advance collection of $108.12 million in ticket sales and the revenue earned after the first home game is completed. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field. Enter your answers In dollers, not in millions (l.e. $5.5 million should be entered as 5,500,000).) View transaction list Journal entry worksheet 2 Record the advance collection in ticket sales. Note Enter debits before credits Transaction General Journal Debit. Credit

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