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A publishing company publishes a monthly magazine and receives all subscription payments from customers in advance. At the end of the year, the Uneared Subscription
A publishing company publishes a monthly magazine and receives all subscription payments from customers in advance. At the end of the year, the Uneared Subscription Income account had a balance of $150,000. During the year, $100,000 of magazines were delivered and income was earned. After the adjusting entry to recognize income is recorded, the Unearned Subscription Income account will have a: Multiple Choice debit balance of $50,000, credit balance of $50,000. debit balance of $100,000. credit balance of $250,000
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