Ozark Publishing Company completed the following transactions during 2010: Requirements 1. Journalize these transactions. Explanations are not

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Ozark Publishing Company completed the following transactions during 2010: image text in transcribed

Requirements 1. Journalize these transactions. Explanations are not required.
2. What amounts would Ozark Publishing Company report on the balance sheet at December 31,2010?

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Financial Accounting

ISBN: 9780136060482

1st Edition

Authors: Jeffrey Waybright, Robert Kemp

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Question Posted: May 13, 2024 05:00 AM

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Ozark Publishing Company completed the following transactions during 2010: Requirements 1. Journalize these transactions. Explanations are not

Question:

Nov 1 Sold a six-month subscription, collecting cash of $180, plus sales tax of 5%. Dec 15 Remitted the sales tax to the state of Illinois. 31 Made the necessary adjustment at year-end to record the amount of subscription revenue earned during the year.

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Financial Accounting

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