Vail Resorts, Inc is an American mountain resort company headquartered in Broomfield, Colorado. Vail Resorts, Inc, operates a downhill ski area near Snomass. C0. An all-day adult lift ticket can be purchased for $60. Adult customets also can buy a seasori pass that entites the pass holder to 5ki any day dufing 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 $325 Required: 1. When should Vail Resorts inc recognize revenue from the sale of its season passes? 2. Prepare the approprlate journal entries that Vail Resorts linc woud record on November 6 and December 31 . 3. What will be inchuded in the Vail Resorts lnc 2024 income statement and balance sheet related to the sale of the season pass to James Smith? Complete this question by entering your answers in the tabs below. When should Ski West recognize revenue from the sale of its season passes? When should Ski West recognize revenue from the sale of its season passes? Journal entry worksheet Note: Enter debits before credits. Record the recognition of revenue earned in December. Note: Enter debits before credits. What will be included in the Sid West 2024 income statement and balance sheet related to the sale of the season pass to Jake Law5on