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26) On April 1, Santa Fe, Incorporated paid Griffith Publishing Company $3,060 for 36 -month subscriptions to several different magazines. Santa Fe debited the prepayment

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26) On April 1, Santa Fe, Incorporated paid Griffith Publishing Company $3,060 for 36 -month subscriptions to several different magazines. Santa Fe debited the prepayment to a Prepaid Subscriptions account, and the subscriptions started immediately. What amount should appear in the Prepaid Subscription account for Santa Fe, Incorporated after adjustments on December 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made? 3060 765 1020 2295

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