Ticketsales, Incorporated, receives $7,160,000 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. View transaction list Journal entry worksheet 2 Record the cash receipt in advance of concerts, Note: Enter debits before credits Date October 31 General Journal Debit Credit Record entry Clear entry View general journal