In November and December 2017, Crane Company, a newly organized magazine publisher, received $75300 for...
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Accounting
In November and December 2017, Crane Company, a newly organized magazine publisher, received $75300 for 1,000 three-year subscriptions at $23 per year, starting with the January 2018 issue. Crane included the entire $75300 in its 2017 income tax return. What amount should Crane report in its 2017 income statement for subscriptions revenue? $0. $75300. $4183. $25100
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