A magazine company's Unearned Revenue account had a balance of $12,700 on January 1. On December 31, as part of the adjusting entry, they recognized Subscription revenue of $14,800. The December 31, balance of the Unearned Revenue account was $12,300.
What must have been the amount of cash received by the magazine company as advance payments from customers during the year?

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The Answer of A magazine company's Unearned Revenue account had a balance of $12,700 on January 1. On December 31, as part of the adjusting entry, they recognized Subscription revenue of $14,800. The December 31, balance of the Unearned Revenue account was $12,300.
What must have been the amount of cash received by the magazine company as advance payments from customers during the year?

A Magazine Company's Unearned Revenue Account Had a Balance of $12,700