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The Contra Costa Times Company reported a $17,200 liability in its 2021 balance sheet for subscription revenue received in advance. During 2022, $68,000 was received from customers for subscriptions and
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The Contra Costa Times Company reported a $17,200 liability in its 2021 balance sheet for subscription revenue received in advance. During 2022, $68,000 was received from customers for subscriptions and the 2022 income statement reported subscription revenue of $69,700. What is the liability amount for deferred subscription revenue that will appear in the 2022 balance sheet?

User Mikael Gueck
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5 votes

Answer:

Deferred revenue 15500

Step-by-step explanation:

Revenue 2022 69700

Liability 2021 -17200

Advance 2022 -68000

Deferred Revenue -15500

Deferred revenue 15500

User Chad Adams
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