In December $2020,$ Quebecor Printing received magazine subscriptions for $2021$ from customers, who paid $$350$ in cash. What would be the appropriate journal entry for this event in December $2020?$

Multiple Choice

Debit Cash, $$350$; credit Deferred Revenue, $$350.$

Debit Subscription Revenue, $$350$; credit Cash, $$350.$

Debit Cash, $$350$; credit Subscription Revenue, $$350.$

No journal entry is necessary.Q