Nationwide Magazine sells 62,000 subscriptions on account in March. The subscription price is $18 each. The subscriptions start in April. The journal entry in March would include a: A. Credit to Unearned Subscriptions Revenue for $1,116,000 B. Debit to Unearned Subscriptions Revenue for $1,116,000. C. Debit to Prepaid Subscriptions for $1,116,000. D. Credit to Cash for $1,116,000.
Nationwide Magazine sells 62,000 subscriptions on account in March. The subscription price is $18 each. The subscriptions start in April. The journal entry in March would include a: A. Credit to Unearned Subscriptions Revenue for $1,116,000 B. Debit to Unearned Subscriptions Revenue for $1,116,000. C. Debit to Prepaid Subscriptions for $1,116,000. D. Credit to Cash for $1,116,000.
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 4PB: Review the following transactions and prepare any necessary journal entries for Woodworking...
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(27) Nationwide Magazine sells 62,000 subscriptions on account in March. The subscription price is $18 each. The subscriptions start in April. The
A. Credit to Unearned Subscriptions Revenue for $1,116,000
B. Debit to Unearned Subscriptions Revenue for $1,116,000.
C. Debit to Prepaid Subscriptions for $1,116,000.
D. Credit to Cash for $1,116,000.
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