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Sandhill Inc. is a publicly traded snack food company focused on snacks and candies from around the world. On a monthly basis, the Prepare the
Sandhill Inc. is a publicly traded snack food company focused on snacks and candies from around the world. On a monthly basis, the Prepare the required summary journal entries for the contract based on your analysis in part aCredit account titles are
automatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and
enter for the amounts. Round answers to decimal places, eg List all debit entries before credit entries.
Date
Account Titles and Explanation
Debit
Credit
Accounts Receivable
Subscription Revenue
Accounts Receivable
Subscription Revenue
To record revenue through subscriptions.
To record cost of goods sold through subscriptions.
To record sales other than through subscriptions.
Sales Revenue
To record cost of goods sold other than through
subscriptions.
company boxes snacks and candies from a different country, along with facts about each and a scorecard for tracking favourites. The
boxes can be purchased at specialty shops and are available for annual subscription.
The consumer can choose between two annual subscriptions, the Good Box for $ annually and the Oh So Good Box for $
annually. Subscriptions are paid in advance and are noncancellable. Sandhill sold for cash subscriptions on October of
which were Oh So Good Box subscriptions.
Single Good Boxes can be purchased at specialty shops. Sandhill charges the shops $ per box. Normally, boxes are delivered to
specialty shops each month, with of these being returned unsold. Of the boxes sent out in October all were sold on
account, and none of the returned boxes are expected to be resold and are scrapped. Unsold boxes are returned by shops in the
following month.
The products in the Good Boxes cost Sandhill $ per box, while the products in the Oh So Good Box cost Sandhill $ per box.
a
Your answer is correct.
Determine how much revenue Sandhill would be able to recognize in October
Revenue through subscriptions
Revenue other than through subscriptions
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