Multiple Choice
Advance ticket sales totaling $6,000,000 cash would be recognized as follows:
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:
Verified
Correct Answer:
Verified
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