When a bond is matured, the carrying value always equals the face value

At Sea, a cruise industry magazine, collected $480,000 in subscription revenue in May. Each subscriber will receive an issue of the magazine for each of the next 12 months, beginning with the June issue. The company uses the accrual basis of accounting

Provide the adjusting entry needed on June 30. (Ignore explanation). Assume the magazine initially records a liability for the subscription revenue. What will be an ideal response

Which of the following indicates the greatest progress toward completion of a sale?

a. buyer advised broker that buyer would sign acceptance of seller's counter offer b. broker notified buyer of seller's signed acceptance of buyer's offer c. seller informed broker that seller would accept the lower price offered by buyer d. broker advises principal that broker has a signed offer to buy per the listing terms