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felipebelt felipebelt
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Posts: 316
5 years ago
Explore, a travel magazine, collected $500,000 in subscription revenue in May. Each subscriber will receive an issue of the magazine for each of the next 12 months, beginning with the June issue. The company uses the accrual method of accounting. Provide the journal entry for collection of cash in May. (Ignore explanation.) Assume the magazine initially records a liability for the subscription revenue.
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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vernonbvernonb
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Posts: 110
5 years ago
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felipebelt Author
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5 years ago
Smart ... Thanks!
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Yesterday
Helped a lot
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2 hours ago
Just got PERFECT on my quiz
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