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What is the balance in the company deferred revenue account

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Reference no: EM132495458

McKinnon Enterprises owns a professional ice hockey team, the Rockford Penguins. The company sells season tickets for its upcoming season and receives $960,000 cash. The season starts January 1, 2018, with five home games occurring monthly over the next six months.

Question 1: What is the balance in the company's deferred revenue account at the end of April 2018? (Assume the deferred revenue account had a zero balance on January 1, 2018.)

Select one:

A. $480,000

B. $640,000

C. $960,000

D. $320,000

E. None of the above

Reference no: EM132495458

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