Statement for subscriptions revenue on accrual basis

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Reference no: EM131996164

In November and December 2017, Gee Company, a newly organized magazine publisher, received $36,000 for 1,000 three-year subscriptions at $12 per year, starting with the January 2018 issue of the magazine. Required: How much should Gee report in its 2017 income statement for subscriptions revenue on an accrual basis? What are Gee's cash receipts in 2017?

Reference no: EM131996164

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