Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can someone explain to me the right answer ? thanks Newstime magazine, a monthly publication, sold 300 annual subscriptions for $50 each during 2020 .

image text in transcribed
can someone explain to me the right answer ? thanks
Newstime magazine, a monthly publication, sold 300 annual subscriptions for $50 each during 2020 . Half of the subscriptions were sold at the beginning of the year, and the rest were sold July 1. Assuming that no adjustments were previously made, the amount of the adjusting entry to recognize revenue on December 31,2020 is $7,500 $15,000 $11,250 \$33,750

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

Finance And Accounting For Nonfinancial Managers

Authors: William G. Droms

5th Edition

0738208183, 9780738208183

More Books

Students also viewed these Accounting questions

Question

What is Aufbau's rule explain with example?

Answered: 1 week ago

Question

Write Hund's rule?

Answered: 1 week ago