Homework Answers
Journal entry
| Date | Account and explanation | Debit | Credit |
| April | Cash (160*72) | 11520 | |
| Unearned subscription revenue | 11520 | ||
| Apr 30 | Unearned subscription revenue (85*72) | 6120 | |
| Subscription revenue | 6120 | ||
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Required information [The following information applies to the questions displayed below.] Evans Ltd. publishes a monthly newsletter for retail marketing managers and requires its subscribers to pay $60 in advance for a one-year subscription. During the month of August 2019, Evans Ltd. sold 500 one-year subscriptions and received payments in advance from all new subscribers. Only 350 of the new subscribers paid their fees in time to receive the August newsletter; the other subscriptions began with the September newsletter. Table...
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