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If a Company Has Advance Ticket Sales Totaling $2,000,000 for the Upcoming

Question 6

Multiple Choice

If a company has advance ticket sales totaling $2,000,000 for the upcoming football season,the receipt of cash would be journalized as:


A) Debit Sales,credit Unearned Revenue.
B) Debit Unearned Revenue,credit Sales.
C) Debit Cash,credit Unearned Revenue.
D) Debit Unearned Revenue,credit Cash.
E) Debit Cash,credit Revenue.

Correct Answer:

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