Worldly Publishing completed the following transactions during 2016: Oct. 1 Sold a six-month subscription (starting on November
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Oct. 1 Sold a six-month subscription (starting on November 1), collecting cash of $450, plus sales tax of 6%.
Nov. 15 Remitted (paid) the sales tax to the state of Tennessee.
Dec. 31 Made the necessary adjustment at year-end to record the amount of subscription revenue earned during the year.
Journalize the transactions (explanations are not required).
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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