Indigo Magazine sold 15,480 annual subscriptions on August 1, 2025, for $17 each. Prepare Indigo's August 1, 2025, journal entry and the December 31, 2025, annual adjusting entry, assuming the magazines are published and delivered monthly. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
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Indigo Magazine sold 15,480 annual subscriptions on August 1, 2025, for $17 each. Prepare Indigo's August 1, 2025, journal entry and
the December 31, 2025, annual adjusting entry, assuming the magazines are published and delivered monthly. (If no entry is required,
select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered.
Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)
Date
Account Titles and Explanation
Debit
Credit
Transcribed Image Text:Indigo Magazine sold 15,480 annual subscriptions on August 1, 2025, for $17 each. Prepare Indigo's August 1, 2025, journal entry and the December 31, 2025, annual adjusting entry, assuming the magazines are published and delivered monthly. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit
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