Senior Times publishes and sells magazines catering to seniors.Subscriptions are sold for $24 for twelve monthly issues.The following chart indicates how many were sold during 2012 and what payment they had received from subscribers by year end.The first magazine is delivered the same month the subscription is sold.The company has never had trouble with receiving payments $\begin{array}{lcc}\text { Date }&\text { \# subscriptions sold }&\text { Cash Received }\\hline
\text { January } 1^{\text {st }} & 2000 & \$ 48,000 \
\text { May } 1^{\text {st }} & 400 & 9,600 \
\text { September } 1^{\text {st }} & 400 & 9,600 \
\text { December } 1^{\text {st }} & 200 & 2,400
\end{array}$ Required:

Question

Senior Times publishes and sells magazines catering to seniors.Subscriptions are sold for $24 for twelve monthly issues.The following chart indicates how many were sold during 2012 and what payment they had received from subscribers by year end.The first magazine is delivered the same month the subscription is sold.The company has never had trouble with receiving payments $\begin{array}{lcc}\text { Date }&\text { \# subscriptions sold }&\text { Cash Received }\\hline 
\text { January } 1^{\text {st }} & 2000 & \$ 48,000 \
\text { May } 1^{\text {st }} & 400 & 9,600 \
\text { September } 1^{\text {st }} & 400 & 9,600 \
\text { December } 1^{\text {st }} & 200 & 2,400
\end{array}$ Required:

Quizplus · Accepted Answer

The Answer of Senior Times publishes and sells magazines catering to seniors.Subscriptions are sold for $24 for twelve monthly issues.The following chart indicates how many were sold during 2012 and what payment they had received from subscribers by year end.The first magazine is delivered the same month the subscription is sold.The company has never had trouble with receiving payments $\begin{array}{lcc}\text { Date }&\text { \# subscriptions sold }&\text { Cash Received }\\hline 
\text { January } 1^{\text {st }} & 2000 & \$ 48,000 \
\text { May } 1^{\text {st }} & 400 & 9,600 \
\text { September } 1^{\text {st }} & 400 & 9,600 \
\text { December } 1^{\text {st }} & 200 & 2,400
\end{array}$ Required:

Senior Times Publishes and Sells Magazines Catering to Seniors Required: A) When Should Senior Times Recognize Revenue? Support Your

Senior Times Publishes and Sells Magazines Catering to Seniors Required:
A) When Should Senior Times Recognize Revenue? Support Your