Boneta City College sold season tickets for the 2016 football season for $250,000. A total of 8
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Question:
Boneta City College sold season tickets for the 2016 football season for $250,000. A total of 8 games will be played during September, October and November. In September, three games were played. The adjusting journal entry at September 30
a. is not required. No adjusting entries will be made until the end of the season in November.
b. will include a debit to Cash and a credit to Ticket Revenue for $62,500.
c. will include a debit to Unearned Ticket Revenue and a credit to Ticket Revenue for $93,750.
d. will include a debit to Ticket Revenue and a credit to Unearned Ticket Revenue for $83,333.
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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