During January, a travel company sold forty cruise vacation packages for $147,960. Customers are required to pay in advance, but the package price is refundable until the date the cruise departs. The cruises begin in February.
A)Record the entry on January 31 to book the amounts collected from customers.
B)What entry is needed to record each time one of its customers departs on the cruise vacation?
Correct Answer:
Verified
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