The publisher of Entrepreneur Today, a monthly business magazine, received $23,400 for three-year subscriptions on January 1, 2019.
a. What entry would be made to record the cash receipt on January 1, 2019?
b. What entry should be made before the financial statements are prepared for the month ending January 31, 2019?

Question

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The Answer of The publisher of Entrepreneur Today, a monthly business magazine, received $23,400 for three-year subscriptions on January 1, 2019.
a. What entry would be made to record the cash receipt on January 1, 2019?
b. What entry should be made before the financial statements are prepared for the month ending January 31, 2019?

The Publisher of Entrepreneur Today, a Monthly Business Magazine, Received