Downtown Magazine collects cash from subscribers in advance and then mails the magazines to subscribers over a one-year period. Read the requirements Requirement 1. Record the journal entry to record the original receipt of $155,000 cash. (Record debits first, then credits. Select the explanation on the la ke joumal entry table.) Date Accounts and Explanation Credit Debit Requirement 2. Record the adjusting entry that Downtown Magazine makes to record the earning of $9,500 of subscription revenue that was collected in adve (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question Save for i Requirements 1. Record the journal entry to record the original receipt of $155,000 cash. 2. Record the adjusting entry that Downtown Magazine makes to record earning $9,500 in subscription revenue that was collected in advance. 3. Using T-accounts, post the journal entry and adjusting entry to the accounts involved and show their balances after adjustments. (Ignore the Cash account.) le ting Sell eco Print Done