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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. A) $18,000 B) $20,000 C) $22,000 D) $24,000

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. A) $18,000 B) $20,000 C) $22,000 D) $24,000

Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter8: Revenue Recognition, Receivables, And Advances From Customers
Section: Chapter Questions
Problem 21E
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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. A) $18,000 B) $20,000 C) $22,000 D) $24,000
Transcribed Image Text: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. A) $18,000 B) $20,000 C) $22,000 D) $24,000
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