Brief Exercise 10-04Larkspur University sells 6,400 season basketball tickets at $65 each for the entire 10-game home schedule.(a)Give the entry to record the sale of the season tickets. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)Account Titles and ExplanationDebitCreditenter an account title to record the sale of the season tickets enter a debit amount enter a credit amount enter an account title to record the sale of the season tickets enter a debit amount enter a credit amount (b)Give the entry to record the revenue recognized after playing the first home game. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)Account Titles and ExplanationDebitCreditenter an account title to record the revenue recognized after playing the first home game enter a debit amount enter a credit amount enter an account title to record the revenue recognized after playing the first home game enter a debit amount enter a credit amount

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Answered: Brief Exercise 10-04 Larkspur…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 54BE

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Brief Exercise 10-04

Larkspur University sells 6,400 season basketball tickets at $65 each for the entire 10-game home schedule.

(a)

Give the entry to record the sale of the season tickets. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
enter an account title to record the sale of the season tickets	enter a debit amount	enter a credit amount
enter an account title to record the sale of the season tickets	enter a debit amount	enter a credit amount

(b)

Give the entry to record the revenue recognized after playing the first home game. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
enter an account title to record the revenue recognized after playing the first home game	enter a debit amount	enter a credit amount
enter an account title to record the revenue recognized after playing the first home game	enter a debit amount	enter a credit amount

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