On October 1, 2019, Paige Turner Publishing received $52,800 in cash for subscriptions covering one...
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Accounting
On October 1, 2019, Paige Turner Publishing received $52,800 in cash for subscriptions covering one year, recording the entry as a debit to Cash and a credit to Unearned Subscriptions. The correct adjusting entry at December 31, 2019, is
Multiple Choice Debit Unearned Subscriptions $52,800; credit Subscriptions Income $52,800. Debit Unearned Subscriptions $4,400; credit Subscriptions Income $4,400. Debit Subscriptions Income $13,200; credit Unearned Subscriptions $13,200. Debit Unearned Subscriptions $13,200; credit Subscriptions Income $13,200.
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