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What amount should Coronado report

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Question - In November and December 2020, Coronado Industries, a newly organized magazine publisher, received $81000 for 1,000 three-year subscriptions at $23 per year, starting with the January 2021 issue. Coronado included the entire $81000 in its 2020 income tax return. What amount should Coronado report in its 2020 income statement for subscriptions revenue?

Reference no: EM132679655

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