Business, 06.01.2020 19:31, oliup567

Northern magazine collects cash from subscribers in advance and then mails the magazines to subscribers over aâ€‹ one-year period.
a. record the journal entry to record the original receipt of $150,000 cash.
b. record the adjusting entry that southern magazine makes to record earning $ 9,000 in subscription revenue that was collected in advance.

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Northern magazine collects cash from subscribers in advance and then mails the magazines to subscrib...