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Wellington Airways Corporation began the month with a balance in the Unearned Ticket Revenue account of $1,675,000. During the month, customers accounting for one-half of
Wellington Airways Corporation began the month with a balance in the Unearned Ticket Revenue account of $1,675,000. During the month, customers accounting for one-half of that amount were safely provided their flights. What adjusting journal entry is needed to recognize this activity for Wellington? Select one: O A. Debit Unearned Ticket Revenue and credit Ticket Revenue, $1,675,000 OB. Debit Unearned Ticket Revenue and credit Cash, $837,500 O C. No entry is required OD. Debit Unearned Ticket Revenue and credit Ticket Revenue, $837,500
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