Get in Shape, a healthy living magazine, collected $528,000 in subscription revenue on May 31. Each subscriber will receive an issue of the magazine in each of the next 12 months, beginning with the June issue. The company uses the accrual method of accounting. What is the balance in the Unearned Revenue account as of December 31?

Answer rating: 100% (QA)

Calculate the revenue earned till 31 st December from magazine subscribers using the equation as sho... View the full answer