Bramble University sells 6,500 season basketball tickets at $40 each for its 13-game home schedule.

(a) Give the entry to record the sale of the season tickets.

(b) Give the entry to record the revenue recognized after playing the first game.

a. The entry to record the sale of the season tickets would be as follows:

Debit Credit

cash $260,000

Unearned ticket revenue $260,000

b. The entry to record the revenue recognized after playing the first game would be as follows:

Debit Credit

Unearned ticket revenue $20,000

Ticket revenue $20,000

Explanation:

a. In order to Give the entry to record the sale of the season tickets we would have to make the following calculation:

Cash=6,500*$40

Cash=$260,000

Therefore, entry would be as follows:

Debit Credit

cash $260,000

Unearned ticket revenue $260,000

b. In order to Give the entry to record the revenue recognized after playing the first game we would have to make the following calculation:

unearned ticket revenue=$260,000/13

unearned ticket revenue=$20,000

Therefore, entry would be as follows:

Debit Credit

Unearned ticket revenue $20,000

Ticket revenue $20,000