Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A magazine publisher has an account called unearned subscription revenue. The transaction that causes the balance of this account to decrease is: cash is received

image text in transcribed
A magazine publisher has an account called "unearned subscription revenue". The transaction that causes the balance of this account to decrease is: cash is received from new subscribers. magazines are printed for the publisher. magazines are mailed to subscribers. subscriptions are sold to new subscribers In July, as you are reviewing the June monthly financial statements, you notice that the company has not paid for their June utility bill. You need to adjust the June statements to reflect the utility expense. When preparing the entry to record this expense, your entry would include: a credit to Cash a credit to Utility Expense a debit to Utility Expense a credit to a Other Revenue

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

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

Mastering Cloud Auditing A Comprehensive Guide To Learn Cloud Auditing

Authors: Cybellium Ltd, Kris Hermans

1st Edition

B0CHL8DYC7, 979-8861283809

More Books

Students also viewed these Accounting questions

Question

6. Does your speech have a clear and logical structure?

Answered: 1 week ago