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Pani-rosa [81]
1 year ago
11

Carson company sells sporting tickets in advance of the event for $500,000. The journal entry to record the sale is?

Business
2 answers:
zhuklara [117]1 year ago
8 0

Answer: No journal entry is required

Explanation:

ki77a [65]1 year ago
5 0

Carson company sells sporting tickets in advance of the event for $500,000. The journal entry to record and the sale transaction would include cash and credit unearned.

Account                                              Debit                   Credit

Cash                                                   $500,000

Credit Unearned Ticket Revenue                               $500,000

Unearned revenue or credit is money received by an individual or company for a service or product that has yet to be provided or delivered. This includes the thought of as a prepayment for goods or services that a person or company is expected to supply to the purchaser at a later date.

Hence, Carson company sells sporting tickets where the debit cash $500,000 and credit unearned ticket revenue is $500,000

To learn more about Unearned revenue here:

brainly.com/question/14952769

#SPJ4

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