On October 1, Year 1, Sparky Co. Magazine sold one-year subscriptions in advance, collecting a total...
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On October 1, Year 1, Sparky Co. Magazine sold one-year subscriptions in advance, collecting a total amount of $12,000 upfront. What is the required adjusting journal entry at the end of the month? O Dr Subscription Revenue $12,000; Cr Unearned Subscription Revenue $12,000 O Dr Subscription Revenue $1,000; Cr Unearned Subscription Revenue $1,000 O Dr Unearned Subscription Revenue $12,000; Cr Subscription Revenue $12,000 O Dr Unearned Subscription Revenue $1,000; Cr Subscription Revenue $1,000 On October 1, Year 1, Sparky Co. Magazine sold one-year subscriptions in advance, collecting a total amount of $12,000 upfront. What is the required adjusting journal entry at the end of the month? O Dr Subscription Revenue $12,000; Cr Unearned Subscription Revenue $12,000 O Dr Subscription Revenue $1,000; Cr Unearned Subscription Revenue $1,000 O Dr Unearned Subscription Revenue $12,000; Cr Subscription Revenue $12,000 O Dr Unearned Subscription Revenue $1,000; Cr Subscription Revenue $1,000
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Subscription revenue received in advance on October 1 2020 for one year 12000 Sub... View the full answer
Related Book For
Modern Advanced Accounting in Canada
ISBN: 978-1259087554
7th edition
Authors: Hilton Murray, Herauf Darrell
Posted Date:
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