Real Losers,a diet magazine,collected $360,000 in subscription revenue in May.Each subscriber will receive an issue of the magazine for each of the next 12 months,beginning with the June issue.
-The company uses the accrual method of accounting.What adjusting entry is needed at June 30?
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Question

Real Losers,a diet magazine,collected $360,000 in subscription revenue in May.Each subscriber will receive an issue of the magazine for each of the next 12 months,beginning with the June issue.
-The company uses the accrual method of accounting.What adjusting entry is needed at June 30?
 $$\begin{array} { | l | r | r | } 
\hline \quad\quad\quad&\quad&\quad \
\hline \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Real Losers,a diet magazine,collected $360,000 in subscription revenue in May.Each subscriber will receive an issue of the magazine for each of the next 12 months,beginning with the June issue.
-The company uses the accrual method of accounting.What adjusting entry is needed at June 30?
 $$\begin{array} { | l | r | r | } 
\hline \quad\quad\quad&\quad&\quad \
\hline \
\hline
\end{array}$$

Real Losers,a Diet Magazine,collected $360,000 in Subscription Revenue in May \begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}​​

Real Losers,a Diet Magazine,collected $360,000 in Subscription Revenue in May $\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$