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Ticket sales, Inc. receives $6,360,000 cash in advance ticket sales for a three-date tour of Bon Jovi. Ticket sales Inc. initially records prepaid and unearned

Ticket sales, Inc. receives $6,360,000 cash in advance ticket sales for a three-date tour of Bon Jovi. Ticket sales Inc. initially records prepaid and unearned items in balance sheet accounts.

A. Record the advance ticket sales on October 31.

B. Record the revenue earned for the first concert date of November 5, assuming it represents 1/3 of the advance ticket sales.

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