Acct 202 cert exam - Study guides, Class notes & Summaries

All of the following are reported as current liabilities except a) bonds payable. b) unearned revenues. c) notes payable. d) accounts payable. - a) bonds payable

Pickett Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 80,000 subscriptions in January at $15 each. What entry is made in January to record the sale of the subscriptions? a) Subscriptions Receivable 200,000 Unearned Subscription Revenue 200,000 b) Subscriptions Receivable 1,200,000 Subscription Revenue 1,200,000 c) Cash 1,200,000 Unearned Subscription Revenue 1,200,000 d) Prepaid Subscriptions 1,200,000 Cash 1,200,000 - c) C...