5) Prepare journal entry(ies) for lessor on Jan.1, 2012. 4. A magazine publisher collects one year in advance for subscription revenue. 1) In the year of colleting cash from customers: Which of the following incomes is higher? Pretax accounting income Tax expense Increase/Decrease Deferred tax asset/Deferred tax liability Taxable income Which of the following accounts is higher? Tax payable The company would record: 2) In the year of providing the magazines to customers: Which of the following incomes is higher? Taxable income Pretax accounting income Tax expense Increase/Decrease Deferred tax asset/Deferred tax liability Which of the following accounts is higher? Tax payable The company would record