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Business, 20.04.2021 19:00 emmahall0826

1. Hubbard Street Dance Company sells subscriptions for its monthly dance performances. The company received annual subscription payments on November 15, 2019 for performances that will take place during 2020 in the amount of $120,000. The subscription payments will be earned equally throughout each month. a. Prepare the journal entry for the receipt of annual subscription payments on November 15, 2019. b. Prepare the required adjusting entry for the subscription payments on January 31, 2020.

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