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Daily Printings sold annual subscriptions to their magazine for $24,000 in December, 2010. The magazine is published monthly. The new subscribers received their first magazine
Daily Printings sold annual subscriptions to their magazine for $24,000 in December, 2010. The magazine is published monthly. The new subscribers received their first magazine in January, 2011.
- What adjusting entry should be made in January if the subscriptions were originally recorded as a liability?
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