Sunland Company Ltd. publishes a monthly sports magazine, Fishing Preview, Subscriptions to the magazine cost...
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Sunland Company Ltd. publishes a monthly sports magazine, Fishing Preview, Subscriptions to the magazine cost $28 per year, During November 2022, Sunland sells 7,500 subscriptions for cash, beginning with the December lssue. Sunland prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The compary uses the accounts Unearned. Subscription Revenue and Subscription Revenue. The company has a December 31 year-end. (a) Prepare the entry in November for the receipt of the subscriptions. (Credit occount tites are outomatically indented when amount is entered. Do not indent manually] Prepare the adjusting entry at December 31, 2022, to fecord subseription revemue in December 2022 , icredit occoiant tities are outomstioolly indented when amount is entered. Do not indent manualiyy)
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