Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. transworld publishing completed the following tran

TransWorld Publishing completed the following transactions during 2024: (i)(Click the icon to view...

70.2K

Verified Solution

Question

Accounting

TransWorld Publishing completed the following transactions during 2024:
(i)(Click the icon to view the transactions.)
Journalize the transactions (explanations are not required). Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entrie
\table[[Date,Accounts and Explanation,Debit,Credit],[Oct.1,\table[[Cash],[Unearned Revenue],[Sales Tax Payable]],441,\table[[420],[21]]]]
Nov. 15: Remitted (paid) the sales tax to the state of Tennessee.
\table[[Date,Accounts and Explanation,Debit,Credit],[Nov.15,\table[[Sales Tax Payable],[Cash]],21,21]]
Dec. 31: Made the necessary adjustment at year-end to record the amount of subscription revenue earned during the year.
\table[[Date,Accounts and Explanation,Debit,Credit],[Dec.31,\table[[Unearned Revenue],[Subscription Revenue]],,],[,,,]]
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students