Question

In November and December 2014, Gee Company, a newly organized magazine publisher, received $36,000 for 1,000 three-year subscriptions at $12 per year, starting with the January 2015 issue of the magazine.

Required:
How much should Gee report in its 2014 income statement for subscriptions revenue on an accrual basis? How much revenue would be reported in 2014 on a cash basis?



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  • CreatedSeptember 10, 2014
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