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The University of Michigan football stadium, built in 1927, is one of the largest stadiums...

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Accounting

The University of Michigan football stadium, built in 1927, is one of the largest stadiums in America. Assume the university sells 110,000 season tickets to five home games before the season begins, and the athletic department collects $63.25 million in ticket sales.

Required:

1. What is the average price per season ticket and average price per individual game ticket sold? 2. & 3. Record the cash collection of $63.25 million in ticket sales (five home games) before the season begins and the appropriate entry after the first home game is completed.

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imageimage Complete this question by entering your answers in the tabs below. What is the average price per season ticket and average price per individual game ticket sold? (Enter your answers in dollars, not in millions (i.e. $5.5 million should be entered as 5,500,000 ).) Journal entry worksheet Record the cash sale of $63.25 million in tickets (five home games) before the season begins. Note: Enter debits before credits. Journal entry worksheet Record the appropriate entry after the first home game is completed. Note: Enter debits before credits

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