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max2010maxim [7]
3 years ago
8

Coronado University sells 5,900 season basketball tickets at $210 each for its 12-game home schedule.

Business
1 answer:
katen-ka-za [31]3 years ago
7 0

Answer:

Explanation:

The journal entries are shown below:

a. Cash A/c Dr $1,239,000     (5,900 seasons × $210)

          To Unearned basket ball tickets revenue $1,239,000

(Being the sale of the season tickets are recorded)

b. Unearned basket ball tickets revenue $103,250      ($1,239,000 ÷ 12)

               To basket ball tickets revenue $103,250    

(Being the revenue recognized)

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