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Vaughn University sells 4,900 season basketball tickets at $198 each for its 12-game home schedule. Give the entry to record (a) the sale of the

Vaughn University sells 4,900 season basketball tickets at $198 each for its 12-game home schedule. Give the entry to record (a) the sale of the season tickets and (b) the revenue recognized after playing the first home game. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.

Account Titles and Explanation

Debit

Credit

(a)

enter an account title to record sale of season tickets

enter a debit amount

enter a credit amount

enter an account title to record sale of season tickets

enter a debit amount

enter a credit amount

(To record sale of season tickets)

(b)

enter an account title to record basketball ticket revenues earned

enter a debit amount

enter a credit amount

enter an account title to record basketball ticket revenues earned

enter a debit amount

enter a credit amount

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