Question: Question 4 5 points Save Answer On 1st June, 2020, readers of Goodnews magazine got a total 20,00 subscriptions for the magazine and 80%

Question 4 5 points Save Answer On 1st June, 2020, readers of Goodnews magazine got a total 20,00 subscriptions for the magazine and 80% of the cash was paid immediately while 20% was paid at the end of June. This subscription covers a period of 10 months. (5 Marks) Required A Prepare the company's journal records for 1st June, 2020 and end of June, 2020. (1 mark) B Prepare the adjusting entries for 31st December, 2020. (1 mark) C Give two reasons the company should not credit subscription money to revenue accounts before expiry of the subscription. (3 marks)

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