Question: On June 1 Guitar Magazine collected cash of 51 000 on

On June 1, Guitar Magazine collected cash of $51,000 on future annual subscriptions starting on July 1.
Requirements
1. Journalize the transaction to record the collection of cash on June 1.
2. Journalize the transaction required at December 31, the magazines year-end, assuming no revenue earned has been recorded.

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  • CreatedJune 15, 2015
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