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On July 1, Quill & Quire magazine collected cash of $5,000 for annual subscriptions (12 issues per year) starting on

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On July 1, Quill & Quire magazine collected cash of $5,000 for annual subscriptions (12 issues per year) starting on August 1. Journalize the transaction to record the collection of cash on July 1 and the transaction required at December 31, the magazine's year end, assuming no revenue has been recorded so far. (Round the adjustment to the nearest whole dollar.)

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Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood

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Question Details
Chapter # 11- Current Liabilities and Payroll
Section: Starters
Problem: 6
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Question Posted: March 31, 2017 15:43:13
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