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Need help with questions C please Larkspur publishes a monthly sports magazine, Hockey Hits. Subscrlptlons to the magazlne cost $22 per year. Durling November 2024
Need help with questions C please
Larkspur publishes a monthly sports magazine, Hockey Hits. Subscrlptlons to the magazlne cost $22 per year. Durling November 2024 , Larkspur sells 18,300 subscrlptlons beglnning with the December lssue. Larkspur prepares financlal statements quarterly and recognizes revenue for magazines sold at the end of the quarter. The company uses the accounts Unearned Revenue and Revenue. (a) Prepare the entry In November for the recelpt of the subscrlptlons. (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 0 for the amounts. List debit entry before credit entry.) (b) Prepare the adjusting entry at December 31,2024 , to record revenue to be recognlzed in December 2024. (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) Prepare the adjusting entry at March 31, 2025, to record revenue to be recognlzed in the first quarter of 2025. (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 0 for the amounts. List debit entry before credit entry.)Step by Step Solution
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