The University of Michigan football stadium, built in 1927, is the largest college stadium in America, with a seating capacity of 109,500 fans. Assume the stadium sells out all six home games before the season begins, and the athletic department collects $78.84 million in ticket sales.

1. What is the average price per season ticket and average price per individual game ticket sold?

-season ticket:

-Individual game ticket:

2. & 3. Record the advance collection of $78.84 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 answer in dollars, not in millions (i. e. 5.5 should be entered as 5,500,000).)

Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000.  ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account.  iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620.  iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account.  v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books.    required: 1. prepare the journal entries to correct the errors.  (narrations required)                    14.5 marks  2.    prepare the suspense account showing clearly the original trial balance error.          8 marks