Brief Exercise 10-4 Bramble University sells 7,800 season basketball tickets at

Question

Brief Exercise 10-4 Bramble University sells 7,800 season basketball tickets at $75 each for the entire 20-game home schedule 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 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 SHOW LIST OF ACCOUNTS

Explanation / Answer

Account titles and explanation Debit Credit (a) Cash 585000 To Unearned basketball ticket revenue 585000 (b) Unearned basketball ticket revenue 29250 To Basket ball ticket revenue 29250 *Calculation of the sale of season tickets : Season tickets * rate per ticket 7800 * 75 585,000 *Calculation of revenue recognized after playing the first home game sale of season tickets / total home game 585,000 / 20 29250

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