Chapter 10 Exercise 10-10

Exercise 10-10 (Part Level Submission) Crane Company Ltd publishes a monthly sports magazine, Fishing Review. Subscriptions to the magazine cost 28 per year. During November 2022. Cranes 12,300 subscriations for cash beginning with the Decembrie Crane prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subsction Revenue. The company has a December 1 year and (a) Your answer is partially correct. Try again Prepare the entry in November for the receipt of the subscriptions. (Credit account titles are automatically indented when amount is entered. De not indent manually.) Date Account Tities and Explanation Now sh I unearned subscription Revenue SHOWS OR ACCOUNTS SHOW SOLUTION SHOW ANSWER (0) Prepare the adjusting entry at December 31, 2022. to record subscription revenue in December 2022 (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 31