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15 April, 11:22

A company sells 12-month subscriptions to popular magazines. During the month of May, the company sells $10,000 in magazines, which will start in June. The journal entry to record the sales not yet earned will include a credit to which account

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  1. 15 April, 12:42
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    The journal entry is shown below:

    Cash Dr $10,000

    To Unearned subscription revenue $10,000

    (Being the recording of the sales is recorded)

    By recording this transaction, we debited the cash and credited the unearned subscription revenue so that the proper posting could be done

    Hence, the unearned subscription revenue is credited
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