Adjusting & Closing Process $($ACP$)$ Practice Problems

In November and December $2024,$ Paul Company, a newly organized magazine

publisher received $$60,000$ for $1,000$ subscriptions $($each subscription lasts for $3$ years$)$ to

a new monthly magazine at $$20$ per year, starting with the first issue in March $2025.$

REQUIRED: Fill in the chart below relating to the amount of revenue to be recorded

in each year assuming a year$-$end of December $31.$