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Fargo Voice of Fargo, North Dakota, publishes a monthly magazine featuring local restaurant reviews and upcoming social, cultural, and sporting events. Subscribers pay for subscriptions either one...

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Fargo Voice of Fargo, North Dakota, publishes a monthly magazine featuring local restaurant reviews and upcoming social, cultural, and sporting events. Subscribers pay for subscriptions either one year or two y ears in advance. Cash received from subscribers is credited to san account called Magazine Subscriptions Received in Advance. On December 31, 2009, the end of the company’s fiscal year, the balance of this account is $840,000. Expiration of subscriptions revenue is as follows:
During 2009 …………….$175,000
During 2010 ……………. 415,000
During 2011 ……………. 250,000
Prepare the adjusting entry in journal form for December 31, 2009.

Answered Same Day Dec 23, 2021

Solution

Robert answered on Dec 23 2021
118 Votes
Fargo Voice of Fargo, North Dakota, publishes a monthly magazine featuring local restaurant
eviews and upcoming social, cultural, and sporting events. Subscribers pay for subscriptions
either one year or two y ears in advance. Cash received from subscribers is credited to san
account called...
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