If a company has advance ticket sales totaling 2000000 for the upcoming football season the receipt of cash would be journalized as

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asked May 9, 2018 80.4k views

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Sunaku · Answer 1 · 2018-05-14T01:58:17+0000

The transaction in this question involves two accounts: sales account and cash account. The transaction will be recorded as such:
Dr. Cash .......... 2,000,000
Cr. Sales of tickets .......... 2,000,000
Ticket sales in cash

If a company has advance ticket sales totaling 2000000 for the upcoming football season the receipt of cash would be journalized as

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