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Unearned Revenues - ticket sales.

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Kirkland theater sells season tickets for events at a price of $168. For the 2007 season, 1,200 season tickets were sold. Complete A,B,C using the attached Excel worksheet. Show any work.

A. Use the horizontal model to show the effect of the sale of the season tickets.

B. Use the horizontal model to show the effect of presenting an event.

C. Where on the balance sheet would the account balance representing funds received for performances not yet presented be classified.

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Unearned Revenues for ticket sales are examined.

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