Business, 14.05.2021 04:10 madisonromney2819
On October 1, 20X1, Paige Turner Publishing received $55,200 in cash for monthly subscriptions covering one year, recording the entry as a debit to Cash and a credit to Unearned Subscriptions. The correct adjusting entry at December 31, 20X1, is:
a. Debit Subscriptions Income $13,800; credit Unearned Subscriptions $13,800.
b. Debit Unearned Subscriptions $55,200; credit Subscriptions Income $55,200.
c. Debit Unearned Subscriptions $13,800; credit Subscriptions Income $13,800.
Answers: 2
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