Sail Away, a cruise industry magazine, collected $480,000 in subscription revenue in May. Each subscriber will...
Sail Away, a cruise industry magazine, collected $480,000 in subscription revenue in May. Each subscriber will receive an issue of the magazine for each of the next 12 months, beginning with the June issue. Calculate the adjustment and the journalize the adjusting entry for July 31st.
Homework Answers
Earned subscription revenue = 480000/12*2 = 80000
| Date | account and explanation | Debit | Credit |
| July 31 | Unearned subscription revenue | 80000 | |
| Subscription revenue | 80000 | ||
| (To record revenue adjusted) |
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mouse and view it in a new tab, then it shows clean images. thank
you and plz someone to answer these for me.
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