# Improvements, a home improvement magazine, collected $ 1 comma 920 comma 000$1,920,000 in subscription revenue on June 30. Each subscriber will receive an issue of the magazine in each of the next 12 months, beginning with the July issue. The company uses the accrual method of accounting. What is the amount of Subscription Revenue that has been earned by the end of December? (Round any intermediate calculations to two decimal places, and your final answer to the nearest whole number.)

1 answer

###### Question:

Improvements, a home improvement magazine, collected $ 1 comma 920 comma 000$1,920,000 in subscription revenue on June 30. Each subscriber will receive an issue of the magazine in each of the next 12 months, beginning with the July issue. The company uses the accrual method of accounting. What is the amount of Subscription Revenue that has been earned by the end of December? (Round any intermediate calculations to two decimal places, and your final answer to the nearest whole number.)

## Answers

Answer: The amount of Subscription Revenue that has been earned by the end of December is $960,000Explanation:The computation of the amount of the subscription revenue is shown below:= Subscription revenue × (number of months ÷ total number of months in a year)= $1,920,000 × (6 months ÷ 12 months)= $960,000The six months is calculated from the July 1 to December 31. Since we have to record the amount for the end of the December so we take the six months

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