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fastflix sells one-year online subscriptions for viewing classic movies. customers are required to pay for the subscription at the beginning of the subscription period. on april 1, 2024, total sales of one-year subscriptions are $12,000. what is the adjusted balance of deferred revenue on december 31, 2024?

Sagot :

By using April 1, 2024 as the beginning date of the one-year subscription, the adjusted balance of deferred revenue on December 31, 2024 would be $9000.

How do sales work?

A sale is an agreement between a buyer and a seller in which the seller exchanges money for the sale of tangible or intangible products, assets, or services. There are two or more parties involved in a sale. A sale, or a contract between two or more parties, such as the buyer and seller, can be thought of in larger terms.

What exactly do sales in company mean?

Sales in general business operations refer to any exchanges of money or value for the right to possess a good or get a service. Sales in an accounting environment.

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