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Journalize the transaction to record the collection of cash

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Reference no: EM132477623

On April 1, Investing Rich Magazine collected cash of $75,000 on future annual subscriptions starting on May 1

  1. Journalize the transaction to record the collection of cash on April 1.
  2. Journalize the transaction required at December? 31, the? magazine's year-end, assuming no revenue earned has been recorded.? (Round adjustment to the nearest whole? dollar.)

Requirement

Question 1. Journalize the transaction to record the collection of cash on April 1. ?(Record debits? first, then credits. Select the explanation on the last line of the journal entry? table.)

Reference no: EM132477623

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