americab512
14.01.2021 •
Business
On April 1, Garcia Publishing Company received $2,448 from Otisco, Inc. for 36-month subscriptions to several different magazines. The subscriptions started immediately. What is the amount of revenue that should be recorded by Garcia Publishing Company for the first year of the subscription assuming the company uses a calendar-year reporting period
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Ответ:
the amount of revenue recorded for the first year is $612
Explanation:
The computation of the amount of revenue recorded for the first year is shown below:
= Amount received × given months ÷ total number of months
= $2,448 × 9 months ÷ 36 months
= $612
The 9 months are considered from April 1 To December 31
hence, the amount of revenue recorded for the first year is $612
Ответ: