Cullumber 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$).$

Cullumber Publications sells annual subscriptions for $$56($paper copies$)$ or $$46($digital copies$).$ Subscriptions are paid

in advance and are non$-$cancellable. Cullumber sold for cash $115,500$ subscriptions on December $1,2024,$ of which

$30\%$ were digital subscriptions.

Single issues can be purchased on newsstands. Cullumber Publications uses various magazine distributors across

Canada to rack it at newsstands, charging the newstands $$5$ per copy. Normally $24,100$ copies are sent out each month,

with $15\%$ of these being returned unsold. Of the $24,100$ magazines sent out in December $2024,$ 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

magazines are returned by newstands in the following month.

Determine how much revenue Cullumber Publications would be able to recognize in December $2024.($Round per

magazine price to $3$ decimal places, e$.$g$.1\mathrm{.}252$ and final answers to $0$ decimal places, e$.$g$.5,125.)$

Revenue recognized through subscriptions

$

Revenue recognized other than through subscriptions

$

Prepare the required summary journal entries for the contract based on your analysis in part $"$a$."($Credit account

titles are automatically indented when the amount is entered. Do not indent manually. If no

entry is required, select $"$No entry" for the account titles and enter $0$ for the amounts. List all

debit entries before credit entries. Round answers to $0$ decimal places, e$.$g$.5,125.)$

Date Account Titles and Explanation

Debit

$($To record the revenue for the monthly

magazine$)$

$($To record sales other than through