4 of 6 View Policies Show Attempt History Your Answer < > Correct Answer (Used) 2.29/4 E Sheridan Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $30per year. During November 2022, Sheridan sells6,360subscriptions for cash, beginning with the December issue. Sheridan prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end. Prepare a tabular summary to record the following events. (a) Receipt of the subscriptions in November. (b) Adjustment at December 31, 2022, to record subscription revenue in December 2022. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) In front of the amount entered for the particular Asset, Liability or Equity Item that was reduced.) Nov $ Assets Cash 190.800 $ Liabilities Pd. in Cap. Unearned Subscrip. + Common Stock Revenue 190,800 $ i $ Reve (a) Receipt of the subscriptions in November. (b) Adjustment at December 31, 2022, to record subscription revenue in December 2022. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Nov. Dec. 31 Assets Cash 190,800 Liabilities Pd. in Cap Unearned Subscrip Common Stock Revi Revenue 190.800 -15.900 (a) Receipt of the subscriptions in November. (b) Adjustment at December 31, 2022, to record subscription revenue in December 2022. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets Liabilities or Stockholders' Equity, place a negative sign (or parentheses) In front of the amount entered for the particular Asset, Liability or Equity Item that was reduced) Revenue 15,900 Stockholders' Equity Retained Earnings Dividend Expense 1 Subscription