Question: please give me the answer for this question... The subject is Intermediate Accounting.. Thanks in Advance. Irvin's Theatre sells season tickets to their plays. Customer's

please give me the answer for this question... The subject is

please give me the answer for this question...

The subject is Intermediate Accounting..

Thanks in Advance.

Irvin's Theatre sells season tickets to their plays. Customer's purchase tickets in April for $600. The season tickets are non-refundable. Customers attend 2 plays each month. The season runs from May to August. Irvin would like to know when he should recognize revenue (1 mark) and why. He follows ASPE. Be sure to use the revenue recognition criteria (RCMP) to explain when he should recognize revenue. Hint: Refer to chapter 6 Earnings Approach to Revenue Recognition. (8 marks)

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