Cassini Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28 per year. During November 2022, Cassini sells 6,300 subscriptions for cash, beginning with the December issue. Cassini prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end. Prepare the entry in November for the receipt of the subscriptions. (Credit account titles are automatically indented when 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.) Date Account Titles and Explanation Nov. 30 Debit Credit
Cassini Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28 per year. During November 2022, Cassini sells 6,300 subscriptions for cash, beginning with the December issue. Cassini prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end. Prepare the entry in November for the receipt of the subscriptions. (Credit account titles are automatically indented when 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.) Date Account Titles and Explanation Nov. 30 Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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am.111.
Transcribed Image Text:Cassini Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28 per year. During
November 2022, Cassini sells 6,300 subscriptions for cash, beginning with the December issue. Cassini prepares financial statements
quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription
Revenue and Subscription Revenue. The company has a December 31 year-end.
Prepare the entry in November for the receipt of the subscriptions. (Credit account titles are automatically indented when
amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for
the amounts.)
Date Account Titles and Explanation
Nov. 30
Debit
Credit
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