ved $500 cash from cust nce, for magazine subscr

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In December 2021, Quebec Printing
received $500 cash from customers, in
advance, for magazine subscriptions to be
delivered in 2022. What would be the
appropriate journal entry for the
December 2021 transaction?
Transcribed Image Text:In December 2021, Quebec Printing received $500 cash from customers, in advance, for magazine subscriptions to be delivered in 2022. What would be the appropriate journal entry for the December 2021 transaction?
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