On April 1, Griffith Publishing company received $3,348 from Santa Fe, Inc for 36-month subscriptions to several different magazines. The subscriptions started immediately. What is the amount of revenue that should be recorded by Griffith Publishing Company for the first year of the subscription assuming the company uses a calendar-year reporting period? ___ $0 ___ $1,116 ___ $837 ___ $279

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On April 1, Griffith Publishing company received $3,348 from Santa Fe, Inc for 36-month subscriptions to several different magazines. The subscriptions started immediately. What is the amount of revenue that should be recorded by Griffith Publishing Company for the first year of the subscription assuming the company uses a calendar-year reporting period?

___ $0

___ $1,116

___ $837

___ $279

___ $93

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