Question: Universal Publishing completed the following transactions during 2016: Journalize the transactions (explanations are not required). (Round all amounts to the nearest cent. Record debits first,

 Universal Publishing completed the following transactions during 2016: Journalize the transactions

Universal Publishing completed the following transactions during 2016: Journalize the transactions (explanations are not required). (Round all amounts to the nearest cent. Record debits first, then credits. Exclude explanations from journal entries.) Oct. 1: Sold a six-month subscription (starting on November 1), collecting cash of $270, plus sales tax of 8%. (Prepare a single compound entry for this transaction.)

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