On April 1, Griffith Publishing Company received $24,480 from Santa Fe, Inc. for 36-month subscriptions too several different magazines. The company credited Unearned Fees for the amount received and the subscriptions started immediately. Assuming adjustments are only made at year-end, what is the adjusting entry that should be recorded by Griffith Publishing Company on December 31 of the first year? debit Unearned Fees, $24,480; credit Fees Earned, $24,480. debit Unearned Fees, $8,160; credit Fees Earned, $8,160. debit Unearned Fees, $18,360; credit Fees Earned, $18,360 debit Unearned Fees, $2,040; credit Fees Earned, $2,040. debit Unearned Fees, $6,120; credit Fees Earned, $6,120