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13. Question 26 Complete At Sea, a cruise industry magazine, collected $480,000 in subscription revenue in May. Each subscriber will receive an issue of the
13. Question 26 Complete At Sea, a cruise industry magazine, collected $480,000 in subscription revenue in May. Each subscriber will receive an issue of the magazine for each of the next 12 months, beginning with the June issue. The company uses the accrual basis of accounting. Provide the adjusting entry needed on June 30. Assume the magazine initially records a liability for the subscription revenue. Include the date ... omit the explanation. Show your work for all calculated numbers and label your numbers. Marked out of 6.00 P Flag question Date Account Debit Credit june 30 unearned revemue 100
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