This is a 2-part question and the second part requires 2 journal entries.
Named in honor of the late Dr. F. C. "Phog" Allen, the Kansas Jayhawks' head coach for 39 years, Allen Fieldhouse is labeled many as one of the best places in America to watch a college basketball game. Allen Fieldhouse has a seating capacity of 15,0 Assume the basketball arena sells out all 14 home games before the season begins, and the athletic department collects $5,250,000 in ticket sales. Required: 1. What is the average price per season ticket and average price per individual game ticket sold? 2. \& 3. Record the advance collection of $5,250,000 in ticket sales and the revenue earned after the first home game is completed. Complete this question by entering your answers in the tabs below. What is the average price per season ticket and average price per individual game ticket sold? (Enter your answers in dollars, not in millions (i.e. $5.5 million should be entered as 5,500,000 ).) Named in honor of the late Dr. F. C. "Phog" Allen, the Kansas Jayhawks' head coach for 39 years, Allen Fieldhouse is labeled by many as one of the best places in America to watch a college basketball game. Allen Fieldhouse has a seating capacity of 15,000 Assume the basketball arena sells out all 14 home games before the season begins, and the athletic department collects $5,250,000 in ticket sales. Required: 1. What is the average price per season ticket and average price per individual game ticket sold? 2. \& 3. Record the advance collection of $5,250,000 in ticket sales and the revenue earned after the first home game is completed. Complete this question by entering your answers in the tabs below. Record the advance collection of $5,250,000 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 dollars, not in millions (i.e. $5.5 million should be entered as 5,500,000).) Named in honor of the late Dr. F. C. "Phog" Allen, the Kansas Jayhawks' head coach for 39 years, Allen Fieldhouse is labeled many as one of the best places in America to watch a college basketball game. Allen Fieldhouse has a seating capacity of 15,0 Assume the basketball arena sells out all 14 home games before the season begins, and the athletic department collects $5,250,000 in ticket sales. Required: 1. What is the average price per season ticket and average price per individual game ticket sold? 2. \& 3. Record the advance collection of $5,250,000 in ticket sales and the revenue earned after the first home game is completed. Complete this question by entering your answers in the tabs below. What is the average price per season ticket and average price per individual game ticket sold? (Enter your answers in dollars, not in millions (i.e. $5.5 million should be entered as 5,500,000 ).) Named in honor of the late Dr. F. C. "Phog" Allen, the Kansas Jayhawks' head coach for 39 years, Allen Fieldhouse is labeled by many as one of the best places in America to watch a college basketball game. Allen Fieldhouse has a seating capacity of 15,000 Assume the basketball arena sells out all 14 home games before the season begins, and the athletic department collects $5,250,000 in ticket sales. Required: 1. What is the average price per season ticket and average price per individual game ticket sold? 2. \& 3. Record the advance collection of $5,250,000 in ticket sales and the revenue earned after the first home game is completed. Complete this question by entering your answers in the tabs below. Record the advance collection of $5,250,000 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 dollars, not in millions (i.e. $5.5 million should be entered as 5,500,000).)
