Kensington News collects payments from customers for newspaper subscriptions on a yearly basis (specifically, in one-year subscriptions). Each month, Kensington must record an adjusting entry to recognize the monthly revenue that has been provided. On March 1, Kensington collected $45,000 cash for one-year subscriptions. Prepare the t-accounts for Subscription Revenue and Deferred Subscription Revenue for Kensington News as of March 31 , before and after preparing the adjusting entries. (Click the icon to view the journal entries.) Use the dates as posting references to post each transaction to the relevant accounts, then compute the adjusted balance of each account. Label the adjusted balances with Adj. Bal. Reference