On July 1, Fly Fishing Magazine collected cash of $ 80,000 on future annual subscriptions starting on
Question:
Requirements
1. Journalize the transaction to record the collection of cash on July 1.
2. Journalize the transaction required at December 31, the magazine’s year-end, assuming no revenue earned has been recorded. (Round adjustment to the nearest whole dollar.)
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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