Asked by madison marciano on Jul 12, 2024
Verified
On January 2, Safe Motorcycling Monthly received a check for $72 from a subscriber for a 12-month subscription. The January issue was mailed on January 15. Prepare the necessary entries for the month of January.
Subscription
An agreement to purchase a product or service on a recurring basis or to receive regular deliveries or access to content.
- Enlist in the journal adjustments for unearned revenues, prepaid expenses, accrued expenses, and depreciation.
Verified Answer
DJ
Dariush JafariJul 18, 2024
Final Answer :
The second entry can be made either on January 15 when the issue is mailed or on January 31with other adjusting entries.
The second entry can be made either on January 15 when the issue is mailed or on January 31with other adjusting entries.
Learning Objectives
- Enlist in the journal adjustments for unearned revenues, prepaid expenses, accrued expenses, and depreciation.
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