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Flounder Magazine sold 7,500 annual subscriptions on August 1,2023, for $24 each. Prepare...

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Accounting

Flounder Magazine sold 7,500 annual subscriptions on August 1,2023, for $24 each.
Prepare Flounder's August 1,2023 journal entry and the December 31,2023 annual adjusting entry, assuming the magazines are published and delivered monthly. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.)
Date
Account Titles and Explanation
Debit
Credit
image

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