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anastassius [24]
3 years ago
8

Madson Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 60,000 subsc

riptions in January at $10 each. What entry is made in January to record the sale of the subscriptions?a.Prepaid Subscriptions................600,000..................Cash...................................600,000b.Subscriptions Receivable..........600,000................Subscription Revenue.............600,000c.Cash...........................600,000............Unearned Subscription Revenue.....600,000d.Subscriptions Receivable.............100,000.............Unearned Subscription Revenue....100,000
Business
1 answer:
KatRina [158]3 years ago
8 0

Answer:

C) Cash...........................600,000............Unearned Subscription Revenue.....600,000

Explanation:

January 31: 60,000 subscriptions sold

  • Dr Cash account 600,000
  • Cr Unearned Subscription Revenue account 600,000

Since cash is an asset account and it increases, then it should be debited.

Unearned revenue is a liability account, since the company received money in advance for future publications. When liabilities increase, they should be credited.

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Answer: Proceeds transaction

Explanation:

In a proceeds transaction, the broker is involved in two related transactions which are the selling of one stock and the buying of another.

Proceed transactions involve a customer asking their broker to sell their stock and then use the proceeds gained from that sale to buy another stock which is what the customer did when he directed his broker to sell ABCD stock and use the proceeds to buy XPDQ stock.

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how can you guarantee that your talk or speech will be interesting to your audience? Is this good advice? Why or why not? Justif
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3 years ago
What is meant by taking the stand? Choose all that apply.
amm1812
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3 years ago
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What is the BEST reason to review your credit reports annually?
FrozenT [24]

Answer:

The correct answer is letter "C": To see if there are any errors or fraudulent activity.

Explanation:

Credit reports provide a summary of all the credits an individual has. It is a good practice to request a credit report at least once a year to find out if there is <em>fraudulent activity</em>. Banks usually inform account holders about fraudulent activity but in some other cases, such as in identity theft, the affected person does not realize what is happening until collection is made for the debt that person is supposed to have.

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3 years ago
Gasoline and bicycles are complements in consumption. Suppose we increase the federal gasoline tax to $1 per gallon. What are th
dalvyx [7]

Answer: A

Explanation:

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