Question
The following information relates totheMorgansternMagazineCompany at the end of 2020. The accounting period is the calendar year. On January 1, 2020, cash of $54,000 was
The following information relates totheMorgansternMagazineCompany at the end of 2020. The accounting period is the calendar year.
On January 1, 2020, cash of $54,000 was received from subscribers (customers) for a 36-month subscription period beginning on that date. The receipt was recorded by a debit to Cash and a credit to Subscription Revenue.Make the necessary Journal entry at December 31
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Accounting Information Systems
Authors: Robert Hurt
4th Edition
78025885, 78025884, 9781259293795 , 978-0078025884
