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Kingbird Magazine sold 11,400 annual subscriptions on August 1, 2020, for $19 each. Prepare Kingbirds August 1, 2020, journal entry and the December 31, 2020,

Kingbird Magazine sold 11,400 annual subscriptions on August 1, 2020, for $19 each. Prepare Kingbirds August 1, 2020, journal entry and the December 31, 2020, annual adjusting entry, assuming the magazines are published and delivered monthly.

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