Alpine, Inc

Multiple Choice

Alpine, Inc. sells baseball tickets for professional baseball games. Cash receipts for baseball tickets are credited to Unearned Ticket Revenue. During 2017, Alpine collected $30,000 for a September, 2017 baseball game and $42,000 for a March, 2018 baseball game. The September game was played as scheduled, although $2,000 of tickets was refunded to fans that canceled because they had been permanently kicked out of the stadium for disorderly conduct. How much should be reported as Unearned Ticket Revenue at December 31, 2017?

A) $0
B) $42,000
C) $72,000
D) $40,000