RJ Magazines Corp. sells three-year magazine subscriptions for $216 cash each. The cost of producing and...

 

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RJ Magazines Corp. sells three-year magazine subscriptions for $216 cash each. The cost of producing and delivering each magazine is $2.25 paid in cash at the time of delivery. RJ's sales activity for the year follows. (Click the icon to view the sales activity.) RJ delivers the magazines at the end of the month. RJ's year-end date is December 31. Required Requirement a. Prepare journal entries to record the subscription sales during the year. (Record debits first, then credits. Explanations are not required.) On January 1, 2023, RJ sells 12,000 subscriptions. Date January 1, 2023 Accounts Debit Credit On April 1, 2023, RJ sells 8,000 subscriptions. Date April 1, 2023 Accounts Debit Credit RJ Magazines Corp. sells three-year magazine subscriptions for $216 cash each. The cost of producing and delivering each magazine is $2.25 paid in cash at the time of delivery. RJ's sales activity for the year follows. (Click the icon to view the sales activity.) RJ delivers the magazines at the end of the month. RJ's year-end date is December 31. Required Requirement a. Prepare journal entries to record the subscription sales during the year. (Record debits first, then credits. Explanations are not required.) On January 1, 2023, RJ sells 12,000 subscriptions. Date January 1, 2023 Accounts Debit Credit On April 1, 2023, RJ sells 8,000 subscriptions. Date April 1, 2023 Accounts Debit Credit