When a customer pays for magazine subscriptions in advance, the journal entry involves a debit to which account for the publishing company?

Question

asked Jan 17, 2018 61.5k views

1 Answer

← Prev Question Next Question →

Ask a Question

Ponting · Answer 1 · 2018-01-22T09:30:21+0000

The answer will be obviously a debit to cash of how much the customer pays for the magazine. However, This is an advance payment so the company will have a liability to the customer to give the magazine to the date agreement.

When a customer pays for magazine subscriptions in advance, the journal entry involves a debit to which account for the publishing company?

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 Comments

Please log in or register to add a comment.

Related questions

Other Questions