Essay
On October 1, 2010, $36,000 of annual magazine subscriptions were sold by Motocross Monthly Magazines. The subscribed magazines are delivered on the first day of each month beginning on October 1, 2010. The total cost of the subscribed magazines is $15,000 or $1,250 per month. Determine the amount of revenue and the cost of the magazines to be recognized during 2010 and 2011, respectively. How much profit will the company recognize during 2010 and 2011?
Correct Answer:
Verified
Correct Answer:
Verified
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