Question
On October 1, 2019, Paige Turner Publishing received $61,800 in cash for subscriptions covering one year, recording the entry as a debit to Cash and
On October 1, 2019, Paige Turner Publishing received $61,800 in cash for subscriptions covering one year, recording the entry as a debit to Cash and a credit to Unearned Subscriptions. The correct adjusting entry at December 31, 2019, is
Multiple Choice
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Debit Unearned Subscriptions $5,150; credit Subscriptions Income $5,150.
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Debit Unearned Subscriptions $61,800; credit Subscriptions Income $61,800.
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Debit Subscriptions Income $15,450; credit Unearned Subscriptions $15,450.
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Debit Unearned Subscriptions $15,450; credit Subscriptions Income $15,450.
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Horngrens Accounting
Authors: Tracie Miller Nobles, Brenda Mattison
13th Edition
0135982235, 9780135982235
