A basketball team sells tickets that cost $10, $20, or, for VIP seats, $30. The team has sold 3285 tickets overall. It has sold 260 more $20 tickets than $10 tickets. The total sales are $63,910. How many tickets of each kind have been sold? How many $10 tickets were sold?

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Completing the Accounting cycle

An accounting cycle is a multiple-step process that analyzes, verify, record and summarize the entities financial data. The accounting cycle starts when the transaction occurs between two parties and ends when the transaction is completed. The accounting cycle changes the entity's financial position as it involves identifying, verifying, and recording the financial transaction in chronological order. Financial position is the summary of business transactions that occurred throughout the particular accounting period. The accounting cycle recurs at the beginning of each financial year.