CSUSB Publications publishes a volleyball magazine for women. The magazine sells for $4.00 a copy on the

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CSUSB Publications publishes a volleyball magazine for women. The magazine sells for $4.00 a copy on the newsstand.

Yearly subscriptions to the magazine cost $36 per Year (12 issues), During December 2017, CSUSB Publications sells 4,000 copies of the volleyball magazine at newsstands and receives payment for 6,000 subscriptions for 2018 Financial statements are prepared monthly.

(Newsstand transaction)

Dr. Cash $

(Subscription Transaction)

Dr. Cash $

Cr. $

Prepare the necessary adjusting entry on January 31, 2018. The January 2018 issue has been mailed subscribers.

Dr. $

Cr Subscription Revenue $