Help Ski West, Inc., operates a downhill ski area near Lake Tahoe, California. An all-day adultiin ticket can be purchased for $85. Adult customers also can purchase a season pass that entitles the pass holder to sklany day during the season, which typically runs from December 1 through April 30. Ski West expects its season pass holders to use their passes equally throughout the season. The company's fiscal year ends on December 31. On November 6, 2021, Jake Lawson purchased a season pass for $455. Required: 1. When should Ski West recognize revenue from the sale of its season passes? 2. Prepare the appropriate journal entries that Ski West would record on November 6 and December 31 3. What will be included in the Skd West 2021 income statement and balance sheet related to the sale of the season pass to Jake Lawson? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required when should Ski West recognize revenue from the sale of its souson passes? We should se West recognistrenge from those of its own poses? Required) Required 1 Required 2 Required 3 Prepare the appropriate foumal entries that Ski West would record on November 6 and December 31. (if no entry is requires transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 1 2 Record the cash collection. Note: Enter debitore credits Date November 08, 2021 + General Journal Debit Credit Record entry Clear entry View generalerna Required 80 000 ** # $ 4 A 3 % 5 6 & 7 8 9 0 C Required 2 Required 3 Prepare the appropriate journal entries that Ski West would record on November 6 and December 31. (If no entry is rega transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the recognition of revenue earned in December Note: Enter debits before credits Date December 31, 2021 General Journal Debit Credit Record entry Clear entry View general journal 3 FS # $ 4 % 5 6 & 7 8 9 0 .com Swed company's fiscal year ends on December 31 On November 6, 2021, Jake Lawson purchased a season pass for $455. Required: 1. When should Ski West recognize revenue from the sale of its season passes? 2. Prepare the appropriate journal entries that Ski West would record on November 6 and December 31. 3. What will be included in the Ski West 2021 income statement and balance sheet related to the sale of the season pass Lawson? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What will be included in the Ski West 2021 Income statement and balance sheet related to the sale of the season pass to da Lawson? Amount Amount Included in remaining balance in Begura DOO F 3 $ 4 % 5 6. & 7 8
