During December 2020, Apartment Publishing sold 3,180 12-month annual magazine subscriptions at a rate of $20 each. The first issues were mailed in February 2021. Prepare the entries on Apartment’s books to record the sale of the subscriptions and the mailing of the first issues. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)
During December 2020, Apartment Publishing sold 3,180 12-month annual magazine subscriptions at a rate of $20 each. The first issues were mailed in February 2021. Prepare the entries on Apartment’s books to record the sale of the subscriptions and the mailing of the first issues. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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During December 2020, Apartment Publishing sold 3,180 12-month annual magazine subscriptions at a rate of $20 each. The first issues were mailed in February 2021. Prepare the entries on Apartment’s books to record the sale of the subscriptions and the mailing of the first issues. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record
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