On January 1, Fashion Magazine recelved $16,680 from subscribers for the annual subscriptions that it recorded in Unearned Revenue. The issues of the magazine are sent digitally to subscribers monthly. What amount of subscription revenue should the magazine recognize on January 31 when the first issue is sent? Multiple Choice $1,390. $4,170. $8,340. $16,680.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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On January 1, Fashion Magazine received $16,680 from subscribers for the annual subscriptions that it recorded in Unearned Revenue. The issues
of the magazine are sent digitally to subscribers monthly. What amount of subscription revenue should the magazine recognize on January 31 when
the first issue is sent?
Multiple Choice
O
O
O
$1,390.
$4,170.
$8,340.
$16,680.
7
Transcribed Image Text:On January 1, Fashion Magazine received $16,680 from subscribers for the annual subscriptions that it recorded in Unearned Revenue. The issues of the magazine are sent digitally to subscribers monthly. What amount of subscription revenue should the magazine recognize on January 31 when the first issue is sent? Multiple Choice O O O $1,390. $4,170. $8,340. $16,680. 7
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