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| Quitstion 1 The World Cup received $500,000 in advance ticket sales...

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Accounting

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Quitstion 1
The World Cup received $500,000 in advance ticket sales at the beginning of October for the International World event in
During November 25 of the games occur and the remaining games happen in December.
a) What is the journal entry to record the receipt of $500,000 at the start of October? (2.5 marks)
b) What is the joumal entry at the end of November and December? (5 marks)
c) What is the ending balance in the unearned revenue account at December 31?(1 mark)
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