Question
Sheffield Corp. typically sells subscriptions on an annual basis, and publishes 8 times a year. The magazine sells 64000 subscriptions in January at $9 each.
Sheffield Corp. typically sells subscriptions on an annual basis, and publishes 8 times a year. The magazine sells 64000 subscriptions in January at $9 each. What entry is made in January to record the sale of the subscriptions?
| Cash | 576000 | |
| Unearned Subscription Revenue | 576000 |
| Subscriptions Receivable | 72000 | |
| Unearned Subscription Revenue | 72000 |
| Subscriptions Receivable | 576000 | |
| Subscription Revenue | 576000 |
| Prepaid Subscriptions | 576000 | |
| Cash | 576000 |
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Sound Investing, Chapter 24 - The Auditors??? Opinion
Authors: Kate Mooney
2nd Edition
0071719466, 9780071719469
