Southeastern Louisiana University soldseason tickets for the zo08 football seasonfor Pi60,000. A total of 8 games will beplayed during September, October andNovember. Assuming all the games areplayed, the Unearned Revenue balance thatwill be reported on the December 31

The revenue and expenses are recorded in the income statement as and when they are incurred.

Answered: Southeastern Louisiana University sold…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Southeastern Louisiana University sold season tickets for the 2008 football season for P160,000. A total of 8 games will be played during September, October and November. Assuming all the games are played, the Uncarned Revenue balance that will be reported on the December 31