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Style Corporation is a magazine publisher. On February 1, it received $24, form customers who had purchased 2-year magazine subscriptions. Style publishes the magazine monthly.

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Style Corporation is a magazine publisher. On February 1, it received $24, form customers who had purchased 2-year magazine subscriptions. Style publishes the magazine monthly. On February 1, Style's bookkeeper made the following entry to record the subscription sales: Assume that it is now December 31. Style has not made any adjusting journal entries related to this transaction since February 1. Required: a. Using the preceding information, calculate the adjusted ending balance in the Unearned Subscription Sales account and the Subscription Sales account at December 31. b. Prepare t-accounts showing the February 1 transaction, the adjustment to be made at December 31, and the ending balances in Unearned Subscription Sales and Subscription Sales. c. Prepare the general journal adjusting entry for December 31

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