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On May 1, Gardening Green Magazine collected cash of $75,000 on future annual subscriptions starting on June 1. Requirements 1. Journalize the transaction to record

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On May 1, Gardening Green Magazine collected cash of $75,000 on future annual subscriptions starting on June 1. Requirements 1. Journalize the transaction to record the collection of cash on May 1. 2. Journalize the transaction required at December 31 , the magazine's year-end, assuming no revenue earned has been recorded. (Round adjustment to the nearest whole dollar.)

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