A publisher sells magazine subscriptions. On November 1 of its first year of operations, the...
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Accounting
A publisher sells magazine subscriptions. On November 1 of its first year of operations, the publisher sold and collected 10,000 one-year subscriptions for $30 each. The publisher has a December 31 yearend.
-How would you record the transaction on November 1?
-What adjusting entry would you record at the end of the year?
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