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QUESTION 1 (c) [2 MARKS] Claire Communications publishes a monthly women magazine, Future Ladies. Subscriptions to the magazine cost $300 per year. During December 2020,

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QUESTION 1 (c) [2 MARKS] Claire Communications publishes a monthly women magazine, Future Ladies. Subscriptions to the magazine cost $300 per year. During December 2020, Claire sells 1,800 subscriptions beginning with the January issue. REQUIRED: Prepare the adjusting entry at March 31, 2021, to record sales revenue recognized in the first quarter of 2021. QUESTION 1 (c) [2 MARKS] Claire Communications publishes a monthly women magazine, Future Ladies. Subscriptions to the magazine cost $300 per year. During December 2020, Claire sells 1,800 subscriptions beginning with the January issue. REQUIRED: Prepare the adjusting entry at March 31, 2021, to record sales revenue recognized in the first quarter of 2021

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