Aquino Company sells subscriptions to a specialized directory that is published semiannually and shipped to subscribers on April 15 and October 15. Subscriptions received after the March 31 and September 20 cut-off dates are held for the next publication. Cash from subscribers is received evenly during the year and is credited to deferred revenue from subscriptions. Deferred revenue from subscriptions- January 1 is P1, 500,000. Cash receipts from subscribers during the current year is P6, 000,000 What amount should be reported as deferred revenue from subscription on December 31? a. 500,000 b. 6000,000 C. 1,500,000 d. 4,500,000