On Oct. 25th American Airlines sold $375,000 worth of tickets electronically for various flights that...
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Accounting
On Oct. 25th American Airlines sold $375,000 worth of tickets electronically for various flights that would occur a month later on Thanksgiving Day. The journal entry that American Airlines would record on Oct. 25th is:
a.
Db. Deferred Revenue $375,000
Cr. Accounts Receivable $375,000
b.
Db. Sales Revenue $375,000
Cr. Accounts Receivable $375,000
c.
Db. Accounts Receivable $375,000
Cr. Sales Revenue $375,000
d.
Db. Accounts Receivable $375,000
Cr. Deferred Revenue $375,000
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