MetroConcerts receives $2,000,000 in advance cash ticket sales for a four-date tour for Diana Krall....
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MetroConcerts receives $2,000,000 in advance cash ticket sales for a four-date tour for Diana Krall. Record the advance ticket sales as a lump sum as of October 31, 2017. The concerts sold out and no additional ticket sales have been recorded. Record the revenue earned for the first concert date, November 16, 2017, assuming each concert date brings in the same amount of revenue.
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