East Coast Trading Question Financial AccountingEast Coast Trading received annual subscriptionfees of $72,000 on October 1, 2013, for the next12 months. Calculate the earned revenue as ofDecember 31, 2013.

Explanation of Annual Subscription Fees: Annual subscription fees represent payment received in…

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EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter18: The Management Of Accounts Receivable And Inventories

Section: Chapter Questions

Problem 9P

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Question Financial Accounting East Coast Trading received annual subscription fees of $72,000 on October 1, 2013, for the next 12 months. Calculate the earned revenue as of December 31, 2013.