Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Nationwide Magazine sells 63,000 subscriptions on account in March. The subscription price is $14 each. The subscriptions start in April. The journal entry in March

Nationwide Magazine sells 63,000 subscriptions on account in March. The subscription price is $14 each. The subscriptions start in April. The journal entry in March would include a:

A) Debit to Unearned Subscription Revenue for $882,000.

B) Debit to prepaid subscriptions for $882,000.

C) Credit to Cash for $882,000.

D) Credit to Unearned Subscription Revenue for $882,000.

Step by Step Solution

3.41 Rating (157 Votes )

There are 3 Steps involved in it

Step: 1

Journal entry Date accounts explanat... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Document Format ( 2 attachments)

PDF file Icon
6099e2cc0ac44_30123.pdf

180 KBs PDF File

Word file Icon
6099e2cc0ac44_30123.docx

120 KBs Word File

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistics For Management And Economics Abbreviated

Authors: Gerald Keller

10th Edition

978-1-305-0821, 1285869648, 1-305-08219-2, 978-1285869643

More Books

Students also viewed these Accounting questions