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On August 1, 2021, Cherry Music sold 300 one-year streaming subscriptions for $96 cash per subscription. Cherry's adjusting journal entry on its fiscal year end

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On August 1, 2021, Cherry Music sold 300 one-year streaming subscriptions for $96 cash per subscription. Cherry's adjusting journal entry on its fiscal year end of December 31, 2021, includes which of the following? O Debit to deferred revenue for $12,000 Debit to deferred revenue for $28,800 Credit to cash for $12,000 Credit to service revenue for $28,800

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