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Klio2033 [76]
3 years ago
14

Marigold Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 96000 subs

criptions in January at $20 each. What entry is made in January to record the sale of the subscriptions
Business
1 answer:
ANEK [815]3 years ago
4 0

Answer:

Dr Cash $1,920,000

Cr Unearned Subscription Revenue $1,920,000

Explanation:

Since The magazine sells 96,000 subscriptions in January at the amount of $20 each which means that the appropriate journal entry that made in January to record the sale of the subscriptions will be

Dr Cash $1,920,000

Cr Unearned Subscription Revenue $1,920,000

(96000*$20)

(To record the sale of the subscriptions)

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