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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16-07-2017
Business

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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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Learnwell Learnwell · Answer 1 · 2017-07-25T00:48:47+02:00

Learnwell Learnwell

25-07-2017

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

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