Unearned magazine revenue and magazine revenue accounts, Accounting Basics

Unearned magazine revenue and magazine revenue accounts

Softball Magazine Company received advance payments of $75,000 from customers during 2011. At December 31, 2011, $20,000 of the advance payments still had not been earned.

After the adjustments are recorded and posted at December 31, 2011, calculate what the balances will be in the Unearned Magazine Revenue and Magazine Revenue accounts. Round your answer to the nearest dollar.

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Accounting Basics: Unearned magazine revenue and magazine revenue accounts

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Accounting Basics: Unearned magazine revenue and magazine revenue accounts

Reference No:- TGS057709

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Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Unearned magazine revenue and magazine revenue accounts

Reference No:- TGS057709

Recent Questions Asked Accounting Basics

Q : Corporation current earnings and profits problem

Q : What amount of overhead should be debited

Q : Differences expect among stakeholder expectations

Q : Financial benefits of being college educated

Q : Unearned magazine revenue and magazine revenue accounts

Q : Optimal order quantity and corresponding

Q : What is socially optimal prices during three periods

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Q : Order to pursue a recent business opportunity

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