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In November and December 2020, Sunland Company, a newly organized magazine publisher, received $81300 for 1,000 three-year subscriptions at $25 per year, starting with the

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In November and December 2020, Sunland Company, a newly organized magazine publisher, received $81300 for 1,000 three-year subscriptions at $25 per year, starting with the January 2021 issue. Sunland included the entire $81300 in its 2020 income tax return. What amount should Sunland report in its 2020 income statement for subscriptions revenue? $81300. $4516. $27100. $0

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