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The Baltimore Performing Arts Center sold all $25,000 worth of its tickets to a popular...

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Accounting

  1. The Baltimore Performing Arts Center sold all $25,000 worth of its tickets to a popular concert a month in advance. The journal entry the Performing Arts Center would record immediately after the concert ended is:

    a.

    Db. Deferred Revenue $25,000

    Cr. Sales Revenue $25,000
    b.

    Db. Deferred Revenue $25,000

    Cr. Cash $25,000
    c.

    Db. Cash $25,000

    Cr. Sales Revenue $25,000
    d.

    Db. Sales Revenue $25,000

    Cr. Deferred Revenue $25,000

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