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Posted on Jul 29, 2024

Southwest Magazine sells subscriptions for $ 1 2 0 for 3 0 issues. The company collects cash in advance and then mails out the magazines

Southwest Magazine sells subscriptions for $ $120$ for $30$ issues. The company collects cash in advance and then mails out the magazines to subscribers each month.

Apply the revenue recognition principle to determine

a $.$ when Southwest Magazine should record revenue for this situation.

b $.$ the amount of revenue Southwest Magazine should record for ten issues.

a $.$ Southwest Magazine should record revenue when the subscribers.

b $.$ For ten issues, Southwest Magazine should record revenue of

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