Flounder Magazine sold $7,500$ annual subscriptions on August $1,2023,$ for $$24$ each.

Prepare Flounder's August $1,2023$ journal entry and the December $31,2023$ annual adjusting entry, assuming the magazines are published and delivered monthly. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

Debit

Credit