b and c also The Scarlet Pages, a semi-professional hockey team, prepare financial statements...
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Accounting
b and c also
The Scarlet Pages, a semi-professional hockey team, prepare financial statements on a monthly basis. Their season begins in October. In September, the team engaged in the following transactions: (a) Paid \$150,000 to Oklahoma City as advance rent for use of Oklahoma City Arena for the six-month period October 1 through March 31. (b) Collected $450,000 cash from sales of season tickets for the team's 30 home games. This amount increased Unearned Ticket Revenue. (c) During the month of October, the Scarlet Pages played five home games. Prepare the adjustments required at October 31 for the transactions above. Indicate the change in each account (Increase or Decrease), the account title of each account affected, and the amount
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