Sit Down Publishers publishes The Accountant magazine and sells one$-$year ddsubscriptions to its customers. Customers are required to pay in full for the one$-$year subscription at the beginning of the subscription period and then each month, customers receive The Accountant magazine. On November $1,2019,$ Sit Down receives a total of $$21,000$ in cash from customers for one$-$year subscriptions, covering the period of $11/1/201910/31/2020.$ How much Subscription Revenue should the company recognize for the period ended December $31,2019?$ Assume the company uses an annual accounting period and makes all adjusting entries on December $31$st$.$

Answer rating: 100% (QA)

ANSWER To determine the subscription revenue that should be recognized for the period ended December ... View the full answer