Second Journal Entry:Record the revenue recognized after the first home game is completed.
Homework Answers
| Average price per season ticket (28,000,000/65,000) | 431 |
| Average price per individual game ticket (431/4) | 108 |
.
| 1 | Cash | 28,000,000 | |
| Unearned Ticket Revenue | 28,000,000 | ||
| 2 | Unearned Ticket Revenue | 7,020,000 | |
| Ticket revenue | 7,020,000 | ||
| (108*65,000) |
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Second Journal Entry:Record the revenue recognized after the
first home game is completed.
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