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Universal Publishing completed the following transactions during 2024 : i. (Click the icon to view the transactions.) Journalize the transactions (explanations are not required). Round
Universal Publishing completed the following transactions during 2024 : i. (Click the icon to view the transactions.) Journalize the transactions (explanations are not required). Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Oct. 1: Sold a six-month subscription (starting on November 1), collecting cash of $570, plus sales tax of 4%. (Prepare a single compound entry for this transaction.) More info \begin{tabular}{ll} \hline Oct. 1 & Sold a six-month subscription (starting on November 1), collecting cash of $570, plus sales tax of 4%. \\ Nov. 15 & Remitted (paid) the sales tax to the state of Tennessee. \\ Dec. 31 & Made the necessary adjustment at year-end to record the amount of subscription revenue earned during the year. \\ \hline \end{tabular}
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