Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Vaughn Manufacturing typically sells subscriptions on an annual basis, and publishes 8 times a year. The magazine sells 61600 subscriptions in January at $9 each.

Vaughn Manufacturing typically sells subscriptions on an annual basis, and publishes 8 times a year. The magazine sells 61600 subscriptions in January at $9 each. What entry is made in January to record the sale of the subscriptions?

Prepaid Subscriptions 554400

Cash554400

Subscriptions Receivable 554400

Subscription Revenue554400

Cash 554400

Unearned Subscription Revenue554400

Subscriptions Receivable 69300

Unearned Subscription Revenue69300

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

Management and Cost Accounting

Authors: Colin Drury

10th edition

1473748873, 9781473748910 , 1473748917, 978-1473748873

More Books

Students also viewed these Accounting questions

Question

1. Effort is important.

Answered: 1 week ago