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During December 2020, Max Publishing Company sold 2,500 12-month subscriptions for $30 each. The first issue was mailed in January 2021. Prepare the journal entries

During December 2020, Max Publishing Company sold 2,500 12-month subscriptions for $30 each. The first issue was mailed in January 2021. Prepare the journal entries to record the sale of the subscriptions on December 31, 2020, and the mailing of the first issue on January 15, 2021.

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