Kristina XGroup MindTap Cengag x ulearnjwueduwebappsassessme

Kristina XGroup MindTap Cengag x //ulearnjwu.edu/webapps/assessment/take/launch,jsp?course assessment id- _140537.18kcourse id 4140971 1&content; id- 4310456 1Bustep-null Question Completion Status QUESTION 35 5 point On 2/16- Tim\'s world sold 12 month $10,000 worth of magazine subscriptions on account. The first of 12 magazines will be mailed next month. 16-February 10,000 10,000 QUESTION 36 riality and the cost Provide a brief description of the qualitative characteristics of useful information including r constraint. elevance/mate For the toolbar, press ALT-F10 (PC) or ALT+FN+F10 (Mac). 3(12pt) ? T-·-·-·?. \' T T T Arial Relevance and faithful representation

Solution

please post one question at a time.

q 35. the following is the journal entry:

Since the subscription is received in advance, we need to credit unearned revenue account.

Since the subscriptions are sold on account we need to debit accounts receivable account.

16-february
	Accounts receivable a/c		$10,000
		To Unearned revenue a/c		$10,000