On October 1, 2019, Paige Turner Publishing received 51,600 in cash for subscriptions covering one year, recording

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On October 1, 2019, Paige Turner Publishing received 51,600 in cash for subscriptions covering one year, recording the entry as a debit to Cash and a credit to Unearned Subscriptions. The correct adjusting entry at December 31, 2019, is

a). Debit Subscriptions Income 51,350; credit Unearned Subscriptions 51,350.

b). Debit Unearned Subscriptions 12,900; credit Subscriptions Income 12,900.

c). Debit Unearned Subscriptions 51,250; credit Subscriptions Income 51,250.

d). Debit Unearned Subscriptions 5,450; credit Subscriptions Income 5,450.

Related Book For answer-question

Intermediate Accounting IFRS

ISBN: 978-1119372936

3rd edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Posted Date: Jan 16, 2021 04:39 AM

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On October 1, 2019, Paige Turner Publishing received 51,600 in cash for subscriptions covering one year, recording

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Intermediate Accounting IFRS

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