Ask Question
BusinessBusiness
28 June, 01:50

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

+5
Answers (1)
  1. 28 June, 04:32
    0
    The receipt of cash would be journalized as:

    debit cash $2000000

    credit unearned revenue $2000000

    cash is on the debit side because you receive the money, so the asset will go up.

    unearned revenue is on the credit side because when you use this account title it means that it reports something amounts received in advance though there is no service rendered yet.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “F a company has advance ticket sales totaling $2,000,000 for the upcoming football season, the receipt of cash would be journalized as: ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
What is a business plan
Answers (1)
For a honda accord, some factors shift demand left and others shift it right, as shown. classify each factor by how it shifts the current demand curve to a new position.
Answers (1)
The prisoners' dilemma game a. is a situation in which two players both have dominant strategies which lead to the highest total payoff for the two players. b.
Answers (1)
A regional car dealership began running mass marketing TV advertisements emphasizing its high-end luxury vehicles. The region this car dealership services had been hit hard with a recession.
Answers (1)
Implementation of the marketing concept requires a firm to obtain information on what customers needs are and how those needs are being met by products currently on the market. A) True B) False
Answers (1)
New Questions in Business
If the absolute price of a new car is $40,000 and the relative price of a laptop computer in terms of cars is 1/20 of a car, it follows that the absolute price of a laptop is $10,000. $1,000. $4,000. $2,000.
Answers (1)
Apple has combined some of its tangible resources (such as financial resources and research laboratories) and intangible resources (such as scientists, engineers, and organizational routines) to create a capability in r&d which creates a core
Answers (1)
What factors are taken into account when valuing publicly traded stock?
Answers (1)
Gonzales Corporation generated free cash flow of $88 million this year. For the next two years, the companyʹs free cash flow is expected to grow at a rate of 10%.
Answers (1)
Panda Inc. had total sales of $24,000 from bamboo bowls in 2017. The company sold 6,000 units of bamboo bowls and the total variable costs were $6,000. What is the %C of each bamboo bowl?
Answers (1)
Home » Business » F a company has advance ticket sales totaling $2,000,000 for the upcoming football season, the receipt of cash would be journalized as:
Sign Up Forgot Password?