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How do I determine the journal entries for the receipt of the subscriptions? Sandhill Co. Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to

How do I determine the journal entries for the receipt of the subscriptions?

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Sandhill Co. Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $15 per year. During November 2017, Sandhill sells 14,320 subscriptions for cash, beginning with the December issue. Sandhill prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end. v (a) Prepare the entry in November for the receipt of the subscriptions. ( Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Nov

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