Question: Ch 11 - HW #2 Problem 3 Horse and Hound Publishing sells magazine subscriptions for $40 each for a 1 year subscription. During April 2014,

Ch 11 - HW #2 Problem 3 Horse and Hound Publishing sells magazine subscriptions for $40 each for a 1 year subscription. During April 2014, 10,000 subscriptions are sold beginning with the May issue. Financial statements are prepared quarterly and revenue is recognized at that time, not monthly. Required: Prepare journal entries for: Sale of the subscriptions Revenue recognition in June Revenue recognition for 3rd quarter that year. Date Account Debit Credit 30-Apr-14 30-Jun-14 9/31/2014 Problem 4 Cashin University sells season passes to home games for $360 for home 15 games. All 1,250 tickets sold out within a week in November for games beginning in December. During December 2 home games were played in December and 4 in January. Required: Record the journal entries for November, December and January Date Account Debit Credit Nov 30

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