Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Sociologist is an academic publication available only by annual subscription. At December 3 1 , 2 0 2 5 , the Unearned Revenue account

The Sociologist is an academic publication available only by annual subscription. At December 31,2025, the Unearned Revenue account had a balance of $22,000. During 2026,1,000 annual subscriptions were sold at $224 each. Revenue earned during 2026 was $200,000. How much unearned revenue will be reported as of December 31?
$24,000
$25,000
$0
$46,000
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Corporate Finance

Authors: Richard A Brealey, Stewart C Myers, Franklin Allen

8th Edition

0073130826, 9780073130828

More Books

Students also viewed these Accounting questions

Question

What is a structural record?

Answered: 1 week ago