A publisher sells subscriptions to its print publications and to its online versions of the same...

A publisher sells subscriptions to its print publications and to its online versions of the same publications. A customer can buy a print-only subscription for (see separate sheet) months for (see separate sheet), or a print subscription plus an online subscription for (see separate sheet). Experience shows that almost all customers buy the print plus the online subscription, so the publisher does not allocate between print only and print plus online; it simply treats everything—even the print-only subscriptions—for accounting purposes as if it were print plus online.

Assume that the publisher sells this number of subscriptions (see separate sheet). Make the journal entries for (a) the sale of the subscriptions and (b) the monthly amount of subscription revenue.

Number of months subscription is good for- 12

Subscription Price, print only- 107.00

Subscription price, print plus online- 108.00

Number of subscriptions sold, print plus online-94

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Expert Solution

ekkarill92 answered 8 months ago

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