Help Save & Exit Submit On August 28, 2024, Disney's online subscription service received a total of $38,880 in cash from 480 customers for one-year subscriptions. The subscriptions begin in September. On receipt of the cash, Disney recorded a liability, deferred subscription revenue. What is the required adjusting entry on December 31, 2024? Multiple Choice Account Title Deferred subscription revenue Subscription revenue Account Title Deferred subscription revenue Subscription payable Debit Credit 12,960 12,960 Debit Credit 12,960 12,960 Account Title Debit Credit Deferred subscription revenue 38,800 Subscription revenue 12,960 Prepaid subscriptions 25,920