C. Deferred revenues-subscription fees Tremblay Inc.publishes a monthly newsletter for retail marketing managers and requires its subscribers to pay $72 in advance for a one-year subscription. During the month of April of the current year, Tremblay Inc. sold 175 one-year subscriptions and received payments in advance from all new subscribers. Only 61 of the new subscribers paid their fees in time to receive the April newsletter. The other subscribers received the newsletter in May. Required: Prepare journal entries to record the subscription fees received in advance during April of the current year, and the related adjusting entry to recognize the subscription revenue earned during April of the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 1 Record the receipt of one-year subscriptions from 175 customers. Note: Enter debits before credits. Date General Journal Debit Credit April Record entry Clear entry View general journal