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What adjusting journal entry should be made

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Question - The University of Wyoming basketball team sells season tickets worth $40 million before the basketball season starts late in the year. Assume this $40 million is debited to cash and credited to unearned ticket revenue. By the end of the year 15 percent of the games have been played.

What adjusting journal entry should be made at the end of the year?

Reference no: EM132195319

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