Business, 01.07.2021 15:10 Tcareyoliver

Mantle Publications publishes a golf magazine for women. The magazine sells for $4.00 a copy on the newsstand. Yearly subscriptions to the magazine cost $36 per year (12 issues). During December 2016, Expert Publications sells 4,000 copies of the golf magazine at newsstands and receives payment for 6,000 subscriptions for 2017. Financial statements are prepared monthly. Instructions: Use Journal Entry Worksheet (a) Prepare the December 2017 journal entry to record the newsstand cash sales revenue of Golf Magazine. (b) Prepare the December 2017 journal entry to record the cash received for the 2018 subscriptions to Golf Magazine. " (c) The January 2018 issue of Golf Magazine was mailed to subscribers. Prepare the necessary adjusting entry on January 3 2018 to recognize the revenue earned.

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Mantle Publications publishes a golf magazine for women. The magazine sells for $4.00 a copy on the...

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