Question
Saas Star is a company that provides TV Streaming services to it's customers. SaaS Star is on the accrual basis, and charges $1,200 for a
Saas Star is a company that provides TV Streaming services to it's customers. SaaS Star is on the accrual basis, and charges $1,200 for a year long subscription to its's platform. Customers who subscribe to Saas Star's services must pay the full $1,200 amount upfront in order to unlock their service.
1. On January 1st, SaaS Star sold a $1,200 annual license to a customer. The customer paid up front on this date. What is the journal entry for this transaction to record on January 1st? I don't need an answer for this question I sent a previous question for this one.
2. What is the journal entry to record revenue in April? ********* This is the one I need the answer*********
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