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The following information was extracted from Read It Magz Inc. The company requires that customers pay the annual subscription fee for the magazine in advance.General Ledger Liability Account (Subscriptions Received in Advance)Balance January 1, 2013 $80,000 (Cr)Entries during 2013 $128,000 (Dr), $120,000 (Cr)a) What was the subscription revenue earned during 2013?b) What was the subscription revenue earned during 2013 for which the subscription fee was received in 2012?c) what was the subscription revenue earned during 2013 for which the subscription fee was also received in 2013?d) What is the subscription revenue to be earned in 2014 for which the subscription fee had been received in 2013?

 

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