Question
On April 1, Garcia Publishing Company received $20,880 from Otisco, Inc. for 36-month subscriptions to several different magazines. The company credited Unearned Fees for the
On April 1, Garcia Publishing Company received $20,880 from Otisco, Inc. for 36-month subscriptions to several different magazines. The company credited Unearned Fees for the amount received and the subscriptions started immediately. Assuming adjustments are only made at year-end, what is the adjusting entry that should be recorded by Garcia Publishing Company on December 31 of the first year?
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International Accounting
Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera
5th edition
1259747980, 9781259747984, 1260466531, 978-1260466539
