The Baltimore Performing Arts Center sold all $25,000 worth of its tickets to a popular...
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Accounting
The Baltimore Performing Arts Center sold all $25,000 worth of its tickets to a popular concert a month in advance. The journal entry the Performing Arts Center would record immediately after the concert ended is:
a.
Db. Deferred Revenue $25,000
Cr. Sales Revenue $25,000
b.
Db. Deferred Revenue $25,000
Cr. Cash $25,000
c.
Db. Cash $25,000
Cr. Sales Revenue $25,000
d.
Db. Sales Revenue $25,000
Cr. Deferred Revenue $25,000
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