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CPA Beach Monthly is a monthly accounting magazine. A 1 year subscription costs $20. 1,000...

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Accounting

CPA Beach Monthly is a monthly accounting magazine. A 1 year subscription costs $20. 1,000 subscriptions were received and started in January. 600 subscriptions were received September 1 and started on October 1. This is the first year of operations. How much revenue should be recognized for the year ending December 31. 1. $23,000 2. $24,000 3. $32,000 4. $12,000 5. None of the above

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