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During January,a Travel Company Sold Forty Cruise Vacation Packages for $147,960.Customers

Question 175

Essay

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 bodk the amounts collected from customers.

B) What entry needs to be recorded each time a customer departs on the cruise vacation?

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