Review problem on recording unearned revenue

Assignment Help Accounting Basics

Reference no: EM131819647

Question: Recording unearned revenue On March 1, Gardening Green Magazine collected cash of $54,000 on future annual subscriptions starting on April 1.

Requirements: 1. Journalize the transaction to record the collection of cash on March 1.

2. Journalize the transaction required at December 31, the magazine's year-end, assuming no revenue earned has been recorded.

Reference no: EM131819647

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