On January 1,Fashion Forward Magazine received $15,000 from subscribers for the annual subscriptions that it recorded in Unearned Subscription Revenue.The issues of the magazine are mailed to subscribers quarterly.What amount of subscription revenue should the magazine recognize on March 31 when the first issue is sent in March?
A)$15,000.
B)$1,250.
C)$7,500.
D)$3,750.
E)$0.

Question

Quizplus · Accepted Answer

The magazine should recognize revenue for one quarter of the annual subscription on March 31, which is $15,000 divided by 4, equaling $3,750.

On January 1,Fashion Forward Magazine Received $15,000 from Subscribers for the Annual