Fugazi City College sold season tickets for the 2018 football season for $240,000. A total of 8 games will be played during September, October and November. In September, three games were played. The adjusting journal entry at September 30
A) is not required. No adjusting entries will be made until the end of the season in November.
B) will include a debit to Cash and a credit to Ticket Revenue for $60,000.
C) will include a debit to Unearned Ticket Revenue and a credit to Ticket Revenue for $90,000.
D) will include a debit to Ticket Revenue and a credit to Unearned Ticket Revenue for $80,000.
Correct Answer:
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