On June 1, Guitar Magazine collected cash of $51,000 on future annual subscriptions starting on July 1.
Question:
Requirements
1. Journalize the transaction to record the collection of cash on June 1.
2. Journalize the transaction required at December 31, the magazines year-end, assuming no revenue earned has been recorded.
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Requirement 1 Date Accounts and Explanation Debit Credit June 1 C...View the full answer
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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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