Chow Publications Inc is a publicly traded media company focused on products for the home chef market The company publishes a monthly magazine that can be purchased at newsstands and is available for annual subscriptions (either paper copy or digital copy) Chow Publications sells annual subscriptions for $60 00 (paper copies) or $48 00 (digital copies) Subscriptions are paid in advance and are non cancellable Chow sold for cash 126,200 subscriptions on December 1, 2020, of which 30 were digital subscriptions Single issues can be purchased on newsstands Chow Publications uses various magazine distributors across Canada to rack it at newsstands, charging the newstands $6 00 per copy Normally 27,100 copies are sent out each month, with 15 of these being returned unsold Of the 27,100 magazines sent out in December 2020, all were sold on account, and none of the returned magazines are expected to be resold and, as a result, are sent to recycling Unsold nagazines are returned by newstands in the following month Determine how much revenue Chow Publications would be able to recognize in December 2020 (Round the per magazine price to 3 decimal places, e g $4 965 and final answers to decimal places, eg 125 ) $ 592200 Revenue through subscriptions Revenue other than through subscriptions $ $ 138210 e Textbook and Media List of Accounts Question Part Score 12 5 25 Your answer is partially correct Prepare the required summary journal entries for the contract based on your analysis in part a (Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter for the amounts Round answers to decimal places, e g 125 ) te Debit Credit Account Titles and Explanation Cash 7106400 Unearned Revenue 7106400 1 V 592200 592200 Unearned Revenue Subscription Revenue (To record revenue through subscriptions) Accounts Receivable Subscription Revenue 162600 24390 138210 Sales Revenue (To record sales other than through subscriptions)

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Chow Publications Inc. is a publicly traded media company focused on products for the home chef market. The company publishes a monthly magazine that can

Chow Publications Inc. is a publicly traded media company focused on products for the home chef market. The company publishes a monthly magazine that can be purchased at newsstands and is available for annual subscriptions (either paper copy or digital copy). Chow Publications sells annual subscriptions for $60.00 (paper copies) or $48.00 (digital copies). Subscriptions are paid in advance and are non-cancellable. Chow sold for cash 126,200 subscriptions on December 1, 2020, of which 30% were digital subscriptions. Single issues can be purchased on newsstands. Chow Publications uses various magazine distributors across Canada to rack it at newsstands, charging the newstands $6.00 per copy. Normally 27,100 copies are sent out each month, with 15% of these being returned unsold. Of the 27,100 magazines sent out in December 2020, all were sold on account, and none of the returned magazines are expected to be resold and, as a result, are sent to recycling. Unsold nagazines are returned by newstands in the following month.

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Determine how much revenue Chow Publications would be able to recognize in December 2020. (Round the per magazine price to 3 decimal places, e.g. $4.965 and final answers to decimal places, eg. 125.) $ 592200 Revenue through subscriptions Revenue other than through subscriptions $ $ 138210 e Textbook and Media List of Accounts Question Part Score 12.5/25 Your answer is partially correct. Prepare the required summary journal entries for the contract based on your analysis in part"a" (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter for the amounts. Round answers to decimal places, e.g. 125.) te Debit Credit Account Titles and Explanation Cash 7106400 Unearned Revenue 7106400 1 V 592200 592200 Unearned Revenue Subscription Revenue (To record revenue through subscriptions) Accounts Receivable Subscription Revenue 162600 24390 138210 Sales Revenue (To record sales other than through subscriptions)