Sports, Inc

question 55

Multiple Choice

Sports, Inc., plans to sell season football tickets for the 10 games played from September through November. These tickets sell for $5 each at the gate or for $45 per season package purchased before April 30. On April 30, the office reports that it has sold 200 season ticket packages and has only 50 left. The correct entry to record the sale of the season tickets is

• A) debit Cash and credit Unearned Revenue for $9,000.
• B) debit Cash and credit Revenue for $11,250.
• C) debit Unearned Revenue and credit Revenue for $9,000.
• D) to determine cost of goods sold.

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Definitions:

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Understanding of how to perform tasks or activities, often involving step-by-step sequences or methods.

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