The Whitney Bluebirds football team sells a 15-game season ticket for $180. Assume that the team sells 2,000 season tickets on August 10. The tickets are all used for admission. a. Prepare a journal entry to record the sale of the season tickets on August 10. b. Prepare a journal entry to record one game of earned revenue on September 12. Round all answers to the nearest dollar. a. General Journal Date Description Debit Credit Aug.10                 To record season tickets sales.     b. General Journal Date Description Debit Credit Sept.12                 To record ticket revenue earned.

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 69E: Unearned Revenue Jennifers Landscaping Services signed a $400-per-month contract on November 1,...
icon
Related questions
Question

Advance Payment for Services
The Whitney Bluebirds football team sells a 15-game season ticket for $180. Assume that the team sells 2,000 season tickets on August 10. The tickets are all used for admission.

a. Prepare a journal entry to record the sale of the season tickets on August 10.
b. Prepare a journal entry to record one game of earned revenue on September 12.
Round all answers to the nearest dollar.

a.

General Journal
Date Description Debit Credit
Aug.10      
       
  To record season tickets sales.    


b.

General Journal
Date Description Debit Credit
Sept.12      
       
  To record ticket revenue earned.    
 
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Accounting for Property, Plant and Equipment
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
Finance
ISBN:
9781285595047
Author:
Weil
Publisher:
Cengage