In november and december year 1, dorr co., a newly organized magazine publisher, received $72,000 for 1,000 3-year subscriptions at $24 per year, starting with the january year 2 issue. dorr elected to include the entire $72,000 in its year 1 income tax return. what amount should dorr report in its year 1 income statement for subscriptions revenue? a. $24,000b. $0c. $ 4,000d. $72,000
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In november and december year 1, dorr co., a newly organized magazine publisher, received $72,000 fo...
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