Lake View Magazine sells subscriptions for $$72$ for $18$ issues. The company collects cash in advance and then mails out the magazines to subscribers each month.

Apply the revenue recognition principle to determine

a$.$ when Lake View Magazine should record revenue for this situation.

b$.$ the amount of revenue Lake View Magazine should record for eight issues.

a$.$ Lake View Magazine should record revenue when

the subscribers.

b$.$ For eight issues, Lake View Magazine should record revenue of