Question
In December of 20X0, Home & Garden Magazine sells 500 12-month subscriptions for $24 each. The magazines will be delivered each month starting in January
In December of 20X0, Home & Garden Magazine sells 500 12-month subscriptions for $24 each. The magazines will be delivered each month starting in January of 20X1. The journal entry to record the transaction in December would include
a. Credit to unearned revenue for $12,000
b. Debit to subscription revenue for $12,000
c. Credit to cash for $1,000
d. Credit to cash for $12,000
e. Credit to subscription revenue for $12,000
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Intermediate Accounting Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
17th Edition
1119613698, 978-1119613695
