Question

Bridgeport Magazine sold 11,640 annual subscriptions on August 1, 2017, for $13 each. Prepare Bridgeport’s August 1, 2017, journal entry and the December 31, 2017, annual adjusting entry, assuming the magazines are published and delivered monthly. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Brief Exercise 13-4 Your answer is partially correct. Try again. Bridgeport Magazine sold 11,640 annual subscriptions on August 1, 2017, for $13 each. Prepare Bridgeport's August 1, 2017, journal entry and the December 31, 2017, annual adjusting entry, assuming the magazines are published and delivered monthly. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit T 8/1/17 Cash 151320 unearned revenue 151320 12/31/17 Unearned Revenue 63050 T Subscription revenue 2 63050 63050 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS

Answer 1

Date	Account titles and explanation	Debit	Credit
Aug 1	Cash(11,640 x $13)	$151,320
	Unearned Subscription Revenue		$151,320
Dec. 31	Unearned Subscription Revenue($151,320 x 5/12)	$63,050
	Subscription Revenue		$63,050