Question
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Management and Cost Accounting
Authors: Colin Drury
10th edition
1473748873, 9781473748910 , 1473748917, 978-1473748873
