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RJ Magazines Corp. sells two-year magazine subscriptions for $180 cash each. The cost of producing and delivering each magazine is $3.25 paid in cash at
RJ Magazines Corp. sells two-year magazine subscriptions for $180 cash each. The cost of producing and delivering each magazine is $3.25 paid in cash at the time of delivery. RJ's sales activity for the year follows. (Click the icon to view the sales activity.) RJ delivers the magazines the end of the month. RJ's year-end is December Required ..... Requirement a. Prepare journal entries to record the subscription sales during the year. (Record debits first, then credits. Explanations are not required.) On January 1, 2020, RJ sells 8,000 subscriptions. Required Sales activity Requirements a. Prepare journal entries to record the subscription sales during the year. b. Prepare summary journal entries to record the revenue earned during the year and the related expense. On January 1, 2020, RJ sells 8,000 subscriptions. On April 1, 2020, RJ sells 6,000 subscriptions. On November 1, 2020, RJ sells 13,000 subscriptions. . Print Done Print Done
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