During 2024, Jackson Entertainment sold twenty 14-month subscriptions for its newly developed internet service. These subscriptions began on August 1, 2024. Customers are required to pay their entire bill on the day the subscription starts. Each 14-month subscription costs $588. The amount of subscription revenue reported in Jackson's 2024 income statement and the amount of unearned revenue reported in Jackson's December 31, 2024 balance sheet would be: $4,900 of subscriptions revenue and $6,860 of unearned revenue $4,200 of subscriptions revenue and $0 of unearned revenue $4,900 of subscriptions revenue and $8,820 of unearned revenue $4,200 of subscriptions revenue and $7,560 of unearned revenue $4,900 of subscriptions revenue and $0 of unearned revenue $4,200 of subscriptions revenue and $5,880 of unearned revenue none of the above choices are correct