Vail Resorts, Inc is an American mountain resort company headquartered in Broomfield, Colorado. Vail Resorts, Inc, operates a downhill skl area near Snomass, CO. An all-day adult lift ticket can be purchased for $70. Adult customers also can buy a season pass that entitles the pass holder to ski any day during the season. The season typically runs from December 1 to April 30 . Vail Resorts, Inc expects its season pass holders to use their passes equally throughout the season. Vail Resorts, Inc's fiscal year ends on December 31 . On November 6,2024 , James Smith purchased a season pass for $370 Required: 1. When should Vail Resorts Increcognize revenue from the sale of its season passes? 2. Prepare the appropriate journal entries that Vail Resorts Inc would record on November 6 and December 31. 3. What will be included in the Vail Resorts Inc 2024 income statement and balance sheet celated to the sale of the season pass to James Smith? Complete this question by entering your answers in the tabs below. When should 5ki West recognize revenue from the sale of its season passes? When should Sit West tecognize revenue trom the saife of its season passes? Journal entry worksheet Journal entry worksheet Record the recognition of revenue earned in December, Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. What will be included in the Ski West 2024 income statement and balance sheet related to the sale of the seaso: Lawson? 1. When should Vail Resorts Inc recognize revenue from the sale of its season passes? 2. Prepare the appropriate journal entries that Vail Resorts Inc would record on November 6 and De 3. What will be included in the Vail Resorts Inc 2024 income statement and balance sheet related to James Smith? Complete this question by entering your answers in the tabs below. What will be included in the Ski West 2024 income statement and balance sheet related to the sale of the sea: Lawson