Business, 18.04.2020 07:05 oakleylynn

The University of Michigan football stadium, built in 1927, is the largest college stadium in America, with a seating capacity of 102,000 fans. Assume the stadium sells out all five home games before the season begins, and the athletic department collects $99.45 million in ticket sales.

Required:

1. 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).)

2. & 3. Record the advance collection of $99.45 million in ticket sales and the revenue earned after the first home game is completed. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i. e. $5.5 million should be entered as 5,500,000).)

Answers: 2

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The University of Michigan football stadium, built in 1927, is the largest college stadium in Americ...