A client pays cash in advance for a magazine subscription to Living Daily. Living Daily has yet
Question:
A client pays cash in advance for a magazine subscription to Living Daily. Living Daily has yet to provide the magazine to the client. What accounts would Living Daily use to recognize this advance payment?
A. Unearned subscription revenue, cash
B. Cash, subscription revenue
C. Subscription revenue, unearned subscription revenue
D. Unearned subscription revenue, subscription revenue, cash
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Related Book For 
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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