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Ticketsales, Incorporated, receives $ 5 , 6 8 0 , 0 0 0 cash in advance ticket sales for a four - date tour of

Ticketsales, Incorporated, receives $5,680,000 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.

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