Prepare the adjusting entry in journal form for december

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Reference no: EM13177429

Fargo Voice of Fargo, North Dakota, publishes a monthly magazine featuring local restaurant reviews and upcoming social, cultural, and sporting events. Subscribers pay for subscriptions either one year or two y ears in advance. Cash received from subscribers is credited to san account called Magazine Subscriptions Received in Advance. On December 31, 2009, the end of the company's fiscal year, the balance of this account is $840,000. Expiration of subscriptions revenue is as follows:

During 2009 ................$175,000

During 2010 ................ 415,000

During 2011 ................ 250,000

Prepare the adjusting entry in journal form for December 31, 2009.

Reference no: EM13177429

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