12) BMCC, a magazine company, collected 5516,000 in subscription revenue on May 31. Each subscriber will receive an issue of the magazine in each of the next 12 months, beginning with the June issue. The company uses the accrual metho of accounting. What is the balance in the Uneamed Revenue account as of December 312 12) A) S301.000 B) $387,000 $215,000 D) $516,000 13) BMCC, a magazine company, collected $500,000 in subscription revenue in May. Each subscriber will receive an issue of the magazine for each of the next 12 months, beginning with the fune issue. The company uses the accrual method of accounting. Prepare the journal entry for collection of cash in May. (Ignore explanation). Assume the magazine initially records a liability for the subscription revenue