Question
Santo Company sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 30,000 subscriptions in January at $15 each. What
Santo Company sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 30,000 subscriptions in January at $15 each. What entry is made in January to record the sale of the subscriptions?
A Subscriptions Receivable 450,000
Subscription Revenue 450,000
B Cash 450,000
Unearned Subscription Revenue 450,000
C Subscriptions Receivable 75,000
Unearned Subscription Revenue 75,000
D Prepaid Subscriptions 450,000
Cash 450,000
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Management Accounting A Business Planning Approach
Authors: Noah P. Barsky, Jr. Anthony H. Catanach
2nd Edition
1516506286, 978-1516506286
