1.	Record the journal entry to record the original receipt of$150,000 cash.
2.	Record the adjusting entry that SouthernSouthern Magazine makes to record earning$9,000 in subscription revenue that was collected in advance.
3.	UsingT-accounts, post the journal entry and adjusting entry to the accounts involved and show their balances after adjustments.(Ignore the Cashaccount.)

Requirement 1. Record the journal entry to record the original receipt of $ 150 comma 000$150,000cash. (Record debitsfirst, then credits. Select the explanation on the last line of the journal entrytable.)

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