Required 1. Complete the paragraph explaining why neamed revenues are labilities instead of revenues. In the exploration, use the following actual example: Mecano's magazine collects canh trom subscribers in advance and later delivers magazines to subscribers over a one-year period. Explain what happens to the neared subscription revenue over the course of a year as Maclean's delivers magazines to subscrbers into what account does the named subscription revenue gos Maclean's delivers magazines? 2. Give the journal entries that Maclean's would make te a. Collect $43.000 of subscription revenue in advance b. Record earning $10,000 of subscription revenue Include an explanation for each entry. Requirement 1. Complete the paragraph explaining why med revenues are instead of revenues in the explanation, use the following actual example: Machan's magazine colects cash from subscribers in advance and later delivers magazines to subscribers over a one-year period. Explain what happens to the reamed subscription revenue over the course of a year as Maclean's delivers magazines i bacters into what account does the neared cription revenue go as Maclean's delivers magazines? Uneamed revenues are liabilities because Maclean's has providing them wih magazines Receiving the cash in advance creates for Maclear's As Maclar delivers magazines to subscribers, Maclear's ears the revenue and the dollar amount of the revenue is transferred from revenues revenue Requirement 2. Give the journal entries that Maclean's would make to () collect 543,000 of subscription revenue in advance and (b) record coming $10,000 of subscription revenus Include an explanation for each oty (Record debit first then credits. Enter explanations on the last line) a. Begin by recording the entry to show Maclear's collecting subscription revenue in advance Journal Entry Date Accounts and Explanations Credit DO Choose from any list or her any number in the input fields and then continue to the next question JIUUU UU NONGS SUDU Ullevenues. We explanation, use the s to subscribers over a one-year period. Explain what happens to the unearned subscription revenue over the course of a Slean's delivers magazines? es are liabilities because Maclean's has subscribers providing them w es to subscribers, Maclean's ears there revenue is transferred from established an accounts payable for the Give the journal entries that Maclean's we venue in advance and (b) record ter explanations on the last line.) received cash from ading the entry to show Maclean's collecting subscription revenue in advance. Journal Entry Accounts and Explanations Debit Credit any list or enter any number in the input fields and then continue to the next question. MacBook Air arapn explaining why uneamed revenues are liabilities instead of revenues. In the explanation, use the following actual example: Macloan's maga one-year period. Explain what happens to the uneamed subscription revenue over the course of a year as Maclean's delivers magazines to subse agazines? ries that Maclean's would make to: of subscription revenue in advance. $10,000 of subscription revenue. planation for each entry- plete the paragraph explaining why uneamed revenues are liabilities instead of revenues. In the explanation, use the following actual example: Me subscribers over a one-year period. Explain what happens to the unearned subscription revenue over the course of a year as Maclean's delivers n's delivers magazines? reliabilities because Maclean's has subscribers providing them with magazines. Receiving the subscribers, Maclean's ears the revenue, and the dollar amount of the 1 from after the journal entries that Macloan's would make to (a) collect $43,000 of subscription revenue 3(b) record earning $10,000 of subscrie xplanations on the last line.) before the entry to show Maclean's collecting subscription revenue in advance. reven revenue to Journal Entry Accounts and Explanations Debit Credit or enter any number in the input fields and then continue to the next question, use the following actual example: Maclean's magazine collects cash from subscribers in advance and later delivers magazines of a year as Maclean's delivers magazines to subscribers. Into what account does the uneamed subscription revenue go as the explanation, use the following actual example: Maclean's magazine collects cash from subscribers in advance and later enue over the course of a year as Maclean's delivers magazines to subscribers. Into what account does the unearned subscription for Maclean's. As Maclean's providing them with magazines. Receiving the cash in advance creates Je is transferred from revenue to revenue. a receivable stry. (Record debits first, in advance and (b) record eaming $10,000 of subscription revenue. Include an an obligation te the paragraph explaining why uneamed revenues are liabilities instead of revenues. In the explanation, use bscribers over a one-year period. Explain what happens to the uneared subscription revenue over the course delivers magazines? iabilities because Maclean's has subscribers providing the bscribers, Maclean's earns the revenue, and the dollar amount of the revenue is transferred from e journal entries that Maclean's would make to (a) collect $43,000 of su anations on the last line.) entry to show Maclean's collecting subscription revenue in advance. in advance and (b) re. earned unearned Journal Entry Accounts and Explanations Debit Credit enter any number in the input fields and then continue to the next question. enue. g why uneamed revenues are liabilities instead of revenues. In the explanation, use the following actual example: Macle period. Explain what happens to the unearned subscription revenue over the course of a year as Maclean's delivers mag O's has subscribers providing them with magazines. Receiving the cas as the revenue, and the dollar amount of the revenue is transferred from revenue to ean's would make to (a) collect $43,000 of subscription revenue in advance and (b) re 00 of subscriptior -) eamed collecting subscription revenue in advance. unearned Journal Entry planations Debit Credit input fields and then continue to the next question. les from subscrib Magazines to subscribers. Into what account does liabilities instead of revenues. In the explanation, use the following actual example: Maclean's magazine collects cashf to the unearned subscription revenue over the course of a year as Maclean's delivers magazines to subscribers. Into w subscribers providing them with magazines. Receiving the cash in advance creates revenue is transferred from revenue to revenue. amount of the $43,000 of subscription revenue in advance and (b) record earning $10,000 of ue. Include an explanat earned e in advance. unearned Debit Credit Required 1. Complete the paragraph explaining why uneamed revenues are liabilities instead of revenues. In the explanation, use the following act to subscribers over a one-year period. Explain what happens to the uneared subscription revenue over the course of a year as Maclean Maclean's delivers magazines? 2. Give the journal entries that Maclean's would make to: a. Collect $43,000 of subscription revenue in advance. b. Record caming $10,000 of subscription revenue. Include an explanation for each entry. Date Accounts and Explanations Debit Credit b. Now record the entry show Maclean's earning the subscription revenue. Journal Entry Date Accounts and Explanations Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. Required 1. Complete the paragraph explaining why uneared revenues are liabilities instead of revenues. In the explanation, use the following to subscribers over a one-year period. Explain what happens to the uneamed subscription revenue over the course of a year as Mac Maclean's delivers magazines? 2. Give the journal entries that Maclean's would make to: a. Collect $43,000 of subscription revenue in advance. b. Record eaming $10,000 of subscription revenue. Include an explanation for each entry. Date Accounts and Explanations Debit Credit b. Now record the entry to show Maclean's earning the subscription revenue. Journal Entry Date Accounts and Explanations Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question on, use the following actual example: Maclean's magazine collects cash from subscribers in advance and later delivers magazines se of a year as Maclean's delivers magazines to subscribers. Into what account does the uneared subscription revenue go as