on October 1, 2019 , paige turner publishing received $5400 in cash for subscriptions covering one...

on October 1, 2019 , paige turner publishing received $5400 in cash for subscriptions covering one year recording the entry as a debit to cash and a credit to earn earn to subscriptions. The correct adjusting entry at December 31, 2019 ears ?

Expert Solution

Journal entry:

Subscription revenue ...Debit = 4050

Subscription received in advance A/c ...Credit = 4050

Note: 5400*9/12 = 4050

ekkarill92 answered 2 years ago

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