Vasquez publishing company sold 1000 two-year subscriptions, Financial Accounting

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Vasquez publishing company sold 1000 two-year subscriptions

On July 1, 20X7, Vasquez Publishing Company sold 1,000 two-year subscriptions to a monthly magazine. The subscriptions sold for $18 each. The first issue was mailed at the end of July. What is the proper balance sheet disclosure regarding this transaction for Vasquez at December 31, 20X7? (Explain/Answer)

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Financial Accounting: Vasquez publishing company sold 1000 two-year subscriptions

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Financial Accounting: Vasquez publishing company sold 1000 two-year subscriptions

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