Question

Softball Magazine Company received advance payments of $75,000 from customers during 2011. At December 31, 2011, $20,000 of the advance payments still had not been earned.
Required:
After the adjustments are recorded and posted at December 31, 2011, calculate what the balances will be in the Unearned Magazine Revenue and Magazine Revenue accounts.


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  • CreatedSeptember 22, 2015
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