On June 1, Madison Community Magazine receives $75,850 in cash for magazine subscriptions covering..

 On June 1, Madison Community Magazine receives $75,850 in cash for magazine subscriptions covering two years. At the end of the year, December 31, M.C. Magazine finds that $57,600 of the magazine subscriptions have been earned. Record in general journal form (a) the original receipt of cash on June 1 and (b) the year-end adjusting entry for Madison Community Magazine.    

Don't use plagiarized sources. Get Your Custom Essay on
On June 1, Madison Community Magazine receives $75,850 in cash for magazine subscriptions covering..
For as low as $7/Page
Order Essay