Splish Magazine sold 11,520 annual subscriptions on August 1, 2020, for $17 each. Prepare Splish August 1, 2020, journal entry and the December 31, 2020, annual adjusting entry, assuming the magazines are published and delivered monthly.
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Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the following: Common stock, $8 par value, 121,000 shares authorized Preferred stock, 9 percent, par value $8 per share, 5,300 shares
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