Wildhorse Co. Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28 per year. During November 2022, Wildhorse sells 8,400 subscriptions for cash, beginning with the December issue. Wildhorse prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end. Prepare the adjusting entry at December 31, 2022, to record subscription revenue in December 2022 Date Account Titles and Explanation Debit Credit Dec. 31 enter an account title for the adjusting entry on December 31, 2017enter an account title for the adjusting entry on December 31, 2017
Wildhorse Co. Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28 per year. During November 2022, Wildhorse sells 8,400 subscriptions for cash, beginning with the December issue. Wildhorse prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end.
Prepare the
Date
Account Titles and Explanation
Debit
Credit
Dec. 31
enter an account title for the adjusting entry on December 31, 2017enter an account title for the adjusting entry on December 31, 2017
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