On June 1 of the current year, Tedesco Publishers collected $ 432,000 for four- year online subscriptions to its Houston Style Magazine. Tedesco has a December 31 year- end. Prepare the journal entries required on the date Tedesco collects the subscriptions and at year- end. What revenue is earned in the current year? What is the balance in the unearned revenue account at December 31 of the current year?
This question was answered on: Jul 11, 2017
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