Business, 16.10.2019 01:10 tomasgarrido10

Journalizing and posting an adjusting entry for unearned revenue
southern magazine collects cash from subscribers in advance and then mails the magazines to subscribers over a one-year period. requirements
1. record the journal entry to record the original receipt of $ 150 comma 000 cash.
2. record the adjusting entry that southern magazine makes to record earning $ 9 comma 000 in subscription revenue that was collected in advance.
3. using t-accounts, post the journal entry and adjusting entry to the accounts involved and show their balances after adjustments. (ignore the cash account.)

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Journalizing and posting an adjusting entry for unearned revenue
southern magazine collects c...

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