Cullumber Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28 per year. During November 2022, Cullumber sells 12,600 subscriptions for cash, beginning with the December issue. Cullumber 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.

A)Prepare the entry in November for the receipt of the subscriptions.

B)Prepare the adjusting entry at December 31, 2022, to record subscription revenue in December 2022

C)Prepare the adjusting entry at March 31, 2023, to record subscription revenue in the first quarter of 2023.

Date

Account Titles and Explanation

Debit

Credit

Month.

enter an account title for the entry in month for the receipt of the subscriptions

enter a debit amount

enter a credit amount

enter an account title for the entry in Month for the receipt of the subscriptions

enter a debit amount

enter a credit amount