Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 5 Days Ago
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 06 May 2018 My Price 4.00

Times Corporation

I am not sure how the March 25th General Journal was calculated.

Advance Payments for Goods
The Chicago Daily Times Corporation (CDT) publishes a daily newspaper. A 52-week subscription sells for $221. Assume that CDT sells 100 subscriptions on January 1. None of the subscriptions are cancelled as of March 31.

a. Prepare a journal entry to record the receipt of the subscriptions on January 1.
b. Prepare a journal entry to record one week of earned revenue on March 25.
Round all answers to the nearest dollar.

Answers

Maurice Tutor
(5)
Status NEW Posted 06 May 2018 05:05 PM My Price 4.00

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