Ski West, Inc., operates a downhill ski area near Lake Tahoe, California. An all-day adult...
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Ski West, Inc., operates a downhill ski area near Lake Tahoe, California. An all-day adult lift ticket can be purchased for $70. Adult customers also can purchase a season pass that entitles the pass holder to ski any day during the season, which typically runs from December 1 through April 30. Ski West expects its season pass holders to use their passes equally throughout the season. The company's fiscal year ends on December 31 On November 6, 2016, Jake Lawson purchased a season pass for $370 Required 1. When should Ski W est recognize revenue from the sale of its season passes? O Equally throughout the season Full amount after the season Full amount before the season 2. Prepare the appropriate journal entries that Ski West would record on November 6 and December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the cash collection. Note: Enter debits before credits Date General Journal Debit Credit November 06 2016
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