Question
Novak Corp. typically sells subscriptions on an annual basis, and publishes 8 times a year. The magazine sells 73600 subscriptions in January at $12 each.
Novak Corp. typically sells subscriptions on an annual basis, and publishes 8 times a year. The magazine sells 73600 subscriptions in January at $12 each. What entry is made in January to record the sale of the subscriptions?
| Subscriptions Receivable | 110400 | |
| Unearned Subscription Revenue | 110400 |
| Subscriptions Receivable | 883200 | |
| Subscription Revenue | 883200 |
| Cash | 883200 | |
| Unearned Subscription Revenue | 883200 |
| Prepaid Subscriptions | 883200 | |
| Cash | 883200 |
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
