Answer:
Asset exchange transaction
Explanation:
Prepaid rent is an asset exchange transaction because cash (asset) is credited while prepaid rent (also an asset) is debited.
Rent paid in advance is recorded as follows:
Dr Prepaid rent
Cr Cash
As the months go by, the prepaid rent is credited and rent expenses is debited.
Dr Rent expense month 1
Cr Prepaid rent month 1
Answer:
yoo my jym teacher name is mr haynes
Explanation:
omgirwkms if u can read that u need a hug
Answer:
Revenue that has been earned by the end of December is $ 140,000
Explanation:
When entity uses the accrual method of accounting, the transaction is recorded as and when it occurs.
The subscription revenue received relates to services to be rendered over 12 months. Therefore the Revenue is recognised as magazines are issued over - time.
<em>From the first issue June to end of December , there exists 7 issues of magazines.</em>
Revenue to be recognised = $240,000 × 7/12
= $ 140,000
Answer:
i dont get it, is there a question?
Explanation:
B) boycott
I remember learning about it in the 5th grade
