Question: On August 2 8 , 2 0 2 4 , an online subscription service provider received a total of $ 3 7 , 4 4

On August

28, 2024,

an online subscription service provider received a total of $

37, 440

in cash from

480

customers for one

-

year subscriptions. The subscriptions begin in September. On receipt of the cash, the company recorded a liability, deferred subscription revenue. What is the required adjusting entry on December

31, 2024 ?

What is the process

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