adjustment for unearned revenues using T accounts.

Adjustment for Unearned Revenues Using $T$ accounts Set up T accounts for Cash, Unearned Ticket Revenue, and Ticket Revenue. Post the following two transactions to the appropriate each transaction by letter: a. Sold 1,200 season tickets at $$20$ each, receiving cash of $$24, 000$ . b. An end-of-period adjustment is needed to recognize that $$19, 000$ in ticket revenue has been earned.

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adjustment for unearned revenues using T accounts.

Adjustment for Unearned Revenues Using

T

accounts Set up T accounts for Cash, Unearned Ticket Revenue, and Ticket Revenue. Post the following two transactions to the appropriate each transaction by letter: a. Sold 1,200 season tickets at

$20

each, receiving cash of

$24, 000

. b. An end-of-period adjustment is needed to recognize that

$19, 000

in ticket revenue has been earned.

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