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Unearned Revenue A magazine company sells a one-year subscription for $42 that will begin the month after the payment is received. During November, the company

Unearned Revenue A magazine company sells a one-year subscription for $42 that will begin the month after the payment is received. During November, the company sells 200 subscriptions. The company did not sell any other subscriptions in the period.

a. Find the adjustment needed at December 31 to record any revenue earned for the November subscriptions.

b. Journalize the adjusting entry to record the revenue

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