Required information

M$10-1($Algo$)$ Recording Deferred Revenues $[$LO $10-2]$

$[$The following information applies to the questions displayed below.$]$

A local theater company sells $1,350$ season ticket packages at a price of $$280$ per package. The first show in the $10-$show

season starts this week.

$($a$)$ The sale of the season tickets before the first show.

$($b$)$ The revenue from fulfilling the performance obligation by putting on the first show.

M$10-1($Algo$)$ Part $1$

Indicate the effects of the amounts for the above transactions. $($Enter any decreases to assets, liabilities, or stockholders equity

with a minus sign.$)$