Whispering Winds Magazine sold 35,000 annual subscriptions on August 1, 2023, for $12 each. Prepare Whispering Winds's August 1, 2023 journal entry and the December 31, 2023 annual adjusting entry, assuming the magazines are published and delivered monthly. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit

Revenue is to be recognized as per accrual basis method. If cash is received before accrual then it…

Answered: Whispering Winds Magazine sold 35,000 annual subscriptions on August 1, 2023, for $12 each. Prepare Whispering Winds's August 1, 2023 journal entry and the…

FINANCIAL ACCOUNTING

10th Edition

ISBN: 9781259964947

Author: Libby

Publisher: MCG

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Whispering Winds Magazine sold 35,000 annual subscriptions on August 1, 2023, for $12 each.
Prepare Whispering Winds's August 1, 2023 journal entry and the December 31, 2023 annual adjusting entry, assuming the magazines
are published and delivered monthly. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.
List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record
journal entries in the order presented in the problem.)
Date
Account Titles and Explanation
Debit
Credit

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