Diving Masters Magazine received $3,400 for magazine subscriptions in advance and recorded the cash receipt as Subscription

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Diving Masters Magazine received $3,400 for magazine subscriptions in advance and recorded the cash receipt as Subscription Revenue. At the end of the year, only $1,400 of this revenue has been earned. What is the required year-end adjusting entry?

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Horngrens Accounting

ISBN: 978-0133855371

10th Canadian edition Volume 1

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood

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Question Posted: Mar 31, 2017 03:00 PM

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Diving Masters Magazine received $3,400 for magazine subscriptions in advance and recorded the cash receipt as Subscription

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Only 1400 of the 3400 of the subscription revenue has be...View the full answer

Horngrens Accounting

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