Ticketsales, Incorporated, receives $$5,520,000$ cash in advance ticket sales for a four$-$date tour of Bon Jovi. Record the advance ticket sales on October $31.$ Record the revenue earned for the first concert date of November $5,$ assuming it represents one$-$fourth of the advance ticket sales. Ticketsales, Incorporated initially records prepaid and unearned items in balance sheet accounts.

Journal entry worksheet

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$2$

Record the concert revenues earned.

Note: Enter debits before credits.

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