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Larkspur publishes a monthly music magazine, Discover. Subscriptions to the magazine cost $22 per year. During November 2024, Larkspur sells 18,300 subscriptions beginning with
Larkspur publishes a monthly music magazine, Discover. Subscriptions to the magazine cost $22 per year. During November 2024, Larkspur sells 18,300 subscriptions beginning with the December issue. Larkspur prepares financial statements quarterly and recognizes subscription revenue on magazines sold at the end of the quarter. The company uses the accounts Unearned Revenue and Revenue. (a) E Prepare the entry to record the receipt of the subscriptions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Account Titles Debit Credit
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