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Charleswood Musical Theatre s season begins in November and ends in April with a different play each month. In October 2017 Charleswood sold 100 season tickets for the 2017 18 season for $210 each

Charleswood Musical Theatre s season begins in November and ends in April, with a different play each month. In October 2017, Charleswood sold 100 season tickets for the 2017-18 season, for $210 each. Charleswood records all season ticket sales as unearned revenue and adjusts its accounts on a monthly basis. The company has a March 31 fiscal year end. Instructions (a) Prepare the entry for sale of these as on tickets. Date the entry October 31. (b) Prepare any required adjusting entries on: 1. November 30, 2017 2. March 31, 2018 3. April 30, 2018 (c) Determine the balance (after any required adjustments) in Unearned Revenueon: 1. November 30, 2017 2. December 31, 2017 3. March 31, 2018

May 22 2020 View more View Less

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