Multiple Choice
When a magazine company receives advance payment for a subscription, what is the required journal entry to be recorded?
A) Cash - Debit; Unearned Subscriptions Revenue - Credit
B) Prepaid Subscriptions - Debit; Cash - Credit
C) Cash - Debit; Subscriptions Revenue - Credit
D) Unearned Subscriptions Revenue - Debit; Cash - Credit
Correct Answer:
Verified
Correct Answer:
Verified
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