Seal Canyon University sells 6,900 season basketball tickets at $45 each for the entire 10-game home schedule.
Give the entry to record the sale of the season tickets.
Account Titles and Explanations | Debit | Credit |
Give the entry to record the revenue recognized after playing the first home game.
Account Titles and Explanations | Debit | Credit |
Date | Account Titles and Explanations | Debit | Credit |
Cash (6,900*$45) | $ 310,500 | ||
Unearned ticket revenue | $ 310,500 | ||
Unearned ticket revenue ($310,500/10*1) | $ 31,050 | ||
Ticket revenue | $ 31,050 |
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Seal Canyon University sells 6,900 season basketball tickets at $45 each for the entire 10-game home...
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