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Today Magazine sells 10,000 subscriptions on account on December 31. The subscription price is $20 each. The subscriptions start on the following January 1, and

Today Magazine sells 10,000 subscriptions on account on December 31. The subscription price is $20 each. The subscriptions start on the following January 1, and run for 4 months. Today Magazine collects the accounts outstanding on January 31.

Required: Write the journal entries for December and January. Omit explanations

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