Question: South Shore Magazine sells subscriptions for 60 for 12 issues

South Shore Magazine sells subscriptions for $60 for 12 issues. The company collects cash in advance and then mails out the magazines to subscribers each month.
Apply the revenue recognition principle to determine
a. When South Shore Magazine should record revenue for this situation.
b. The amount of revenue South Shore Magazine should record for eight issues.

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  • CreatedJune 12, 2015
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